Im in the top 1% of agents nation wide.....and when I buy or sell in another market, I still hire a local agent. 

@Andrew Major my primary focus at this time is note investing and I invest in several states across the nation 

Doctor and novice real estate investor looking to meet like-minded people for group buy & flips to raise capital for personal buy & holds.

If you have capital or the ability to acquire capital cheaply, you can be a lender. 

I’m not sure how you guys are structuring it, but maybe asking the seller to do a seller finance on maybe the repair amount at least so it won’t cost you as much as raising capital, and technically you’re not asking for a credit or concession at closing for the repair amount. 

As pointed out in other threads a national meltdown of real estate prices is rare.

Seems like it would be so much easier to get started with much less capital.

A HML is likely to see that as a plus, so if you factor the capital cost into the deal and it works for you -- HML might be the way to go.

This also doesn't touch on CapEx reserves and working capital, which you'll need since the roof is 22 years old from what you have said. 

Generally the purchase of the property, getting it to a rentable state, etc. is capitalized and depreciated.