Also, you may be required to pay homeowner’s insurance and prorated property taxes for the remaining year.Inspection/appraisalLike buying residential properties, investment properties are subject to inspections and appraisals.

@Kala SamuelTo start investing in real estate, define your goals and strategy, choose a market with job growth, population growth, and rental demand, finance your first deal with FHA Loan, conventional Loan, or Hard Money Loans, find the right property, build a support team, make offers, inspect the property thoroughly, and manage wisely.

I also asked about any plumbing issues, which I would get inspected during the due diligence phase, along with other major concerns.While I don't have much experience assessing houses and determining the extent of repairs, I’ve spent a lot of time in stores like Home Depot and Lowe’s.

I would think a detection device would be easy to fool or disable, and difficult to prove in court.I would focus on inspections and look for the following evidence, then document with pictures, written warnings, demands of cleaning/repairs, and follow-up inspections.

I was able to get interested buyers (investors) under contract, but a couple ended up backing out either due to the appraisal contingency, inspection, or lack of funds which are all common reasons.

NEVER buy a property without a thorough inspection by a great inspector that you select and pay for.

I would also ask for the inspection checklist so you can ensure your place will pass inspection. 

It's hard to use hard money on these since you typically need an inspection of some sort. 

Before you do anything, you'd be well served to have an occupancy inspection to see what your municipality will force you to do, before allowing a new person to move in.

I used Lane Home inspections for our last purchase inspection and wasn’t happy.