That way, when an A/C unit breaks or you have to replace the roof, you've already budgeted for that. 

Purchase price: $155,000 Cash invested: $220,000 Purchased this distressed home right outside of University of Delaware and renovated the entire property: new roof, new windows, new siding, filled in an in ground pool, demoed flooded basement and added 4th bedroom, converted half bath to full, refinished kitchen, refinished hardwood flooring, installed LVF throughout home, new plumbing, new electrical, etc.

He also does all my rehabs too, he can do anything, roofing, plumbing, electrical, framing and on and on.

Its a BRRRR investments, needs major rehab and a new roof, but the numbers work fine.Thank you in advance! 

I"m going to need to steal this saying.

It saves you from needing to put away significant funds for Capex issues like the roof, foundation, etc. because this is handled by the HOA.

That included a new roof and windows installed by contractors.

The actual roof is a triangle, so there is space above.

The fair market rent of the unit would be 6k per month and there is a lot of risk right now out there with unemployment shooting through the roof.

Whether I got a deal or not on a roof is irrelevant, you should be concerned that the roof is 4 years old.Additionally, I do out RET on mine, but you can typically hop on a county assessor site, plug in your purchase price to see what those will be for YOU.