As long as you are getting 150-200 per door on larger multifamily, you can afford to have a vacancy or a major repair and still break even for the month.

Buying something and finding out there's major roof, foundation, etc issues is not worth winning the bid!

For example, if the stairs to the attic are too steep or narrow, they'll need to be ripped out...that's major structural work...thousands and thousands of dollars.And for what?

Buy something that needs some work but nothing major in a decent C+/B+ neighborhood that is growing.

All of these deals were done between Denver, CO and Orlando, FL.We = Me, My partner who is also 22, and the team we built.My 2018 in ReviewPurchased  ~$8.6M worth of real estate across 35 properties for ~$5.7MWe sold and closed on 20 of these properties in 2018 for a gross profit of ~$1.15M after realtor commissionsand we still own 15 of those properties with about $1.2M in equity, all of which are scheduled to be sold and closed in early Q1 2019.Total Equity Created in 2018 was $2.35MTotal Equity Realized/Cashed Out was $1.15MTotal Equity in Assets We Still Own is $1.2MWe acquired the majority of these deals off market through our own marketing, and bought three of them off of the MLSTakeawaysYou can buy your first property before you're 25 :)Leverage is a powerful tool if you use it correctly (we stay under ~70% LTV across the portfolio at all times)The reason this worked is because of years of experience in off market acquisitions and an up market. 

Only if it is a major impact on their livelihood.

Have you been able to check all the major systems (HVAC, roof, water heater, etc)?

My major concerns are cash flow and if my tenants will fork over $200+ per month for electric pre-replacement (i.e. high tenant turnover- I figured 30 days out of the year vacancy which I was told was ridiculously high here but, it makes me feel better).Has anyone had a similar experience to me and your analysis shake out okay in the long run? 

My major concerns are cash flow and if my tenants will fork over $200+ per month for electric pre-replacement (i.e. high tenant turnover- I figured 30 days out of the year vacancy which I was told was ridiculously high here but, it makes me feel better).Has anyone had a similar experience to me and your analysis shake out okay in the long run?

I doubt majority of buyers on here walk roofs, attics or crawlspaces anyway.