Maybe do 1 or 2 more multi families before I can start branching out and doing that kind of stuff.  

What you do next depends on what kind of lead it is. 

SO, something funny...I went to visit my area REIA, good size group, I guess they have monthly speakers, the gentlemen that just so happen to be speaking, FULL of energy, great sense of humor, but there was something eerily familiar about his "pitch".

If the tenant had a dishwasher leak a week ago, that would not have done this kind of damage. 

@Mikael Lickteig As long as you can provide statement showing 0 balance, you should be good unless your lender has some kind of overlays.

Say your property shows a $5,000 annual profit on paper, once you consider the write-offs like depreciation, mortgage interest, property tax, etc, what kind of tax bill should you expect?

It also depends what kind of project you are doing.

I would like to get some tips on what are the 3 or 4 things you guys look for when you visit a property?

Interesting strategy, because I was thinking of doing the opposite, kind of like what @John Woodrich mentioned.

Also, do I need a special kind of baseboard for replacing them?