The subfloors are typically a composite material and any leaks or moisture inside can rot them quickly and they crumble.

It was a 1960s build with holes in the roof, severe mold and wood rot damage.

This costs about $75 per month, or, if I can get one of the tenants to allow me to set up my "Automation Hub" (I use Smartthings HUB in my setup), I will give the tenant $25 per month towards their bill.There are many ways that Smart Devices can help, not only in the case of smoke detectors.I have motion detectors which turn on and off lights, cameras that record to the Internet, leak detectors that tell me if there are problems with my basement, particularly if one of my equipment like a Hot Water Heater or Hot Water boiler is leaking, etc.In fact, I normally buy properties in transitioning neighborhoods, capturing the appreciation as the neighborhood gets better.The Internet Cameras became very important in this situation for 2 reasons:1) I kept getting sanitation tickets for dirty sidewalks.

@Brandon McNultyCapex includes those big items; roofs, floors, kitchen cabinets and counters, plumbing, mechanical, electrical, etc.  

Long play for appreciation seems ok, many people on west coast do appreciation over cash flow.you might want to plan more Maintenance costs depending on age and condition of roof, siding/paint, furnace, water heater, plumbing ectProperty management for 8-10%, unless you will manage yourself

He said 50.Not sure what he paid at auction, but this was just purchased at a foreclosure auction.Newer roof and gutters.

Once the valve opens and the water turns on, a leak or flood will likely follow. 

New roof they need to give you permission.

What concerns me is the liability that comes with the septic system if it leaks or collapses.

Roof replacement -> 4k-6k3.