Just factor in fixing the reason the basement flooded (could be easy like clogged gutters or extending the down spouts or maybe the sump pump hasn't worked because the electric is off or it could be expensive like digging around the foundation, parging the walls and then adding a french drain or could be real expensive and have a cracked foundation so you need to know) mold remediation and door replacement (if they're really bad) into the renovation figures.  

Its too easy, when you go at it alone, to talk yourself out of something or have self doubt. 

@Jared W Smith I refer Mark Fisher from United Northern.

Perhaps update some appliances - lighting - etc. those things that are quick and easy and make things "pop"!

As you probably already know, entity protection is not really a cut and dry standard, it's a cross reference between the value of the asset, the risk or liability the asset possesses. 

Are you referring to receipts for expenses on the rentals you manage?

But I refer to paid mentors. 

I do NOT recommend you get the seller to fix any issues unless they are very easy and essentially cosmetic in nature.

Fees should be clearly stated, easy to understand, and justifiable.

Easy fix.