It's generally a tight market so landlords make the rules and our rules are generally the tenant pays for everything.3) PM fees vary, middle of the road is 10% of monthly income and 1 months rent on turn over.

You could get a loan to fix the place up and if you get enough equity out of the improvements, you can do a cash-out refinance down the road and potentially get the rehab money back and pay off the bank loan.

The process of purchasing a foreclosure is a lot different than purchasing a home the conventional way so you want someone who knows how to navigate the different bumps in the road that will inevitably come up.

I've considered seeing if the seller would pay for the roof or at least receive cash back at closing to cover the cost of the roof, being that is the biggest expense I see coming down the road. 

Joseph Varnau you are going to have to pay taxes at some point. 1031s only kick the can down the road.

If so, that’s a big plus, but you’ll have to pay the city something to tie in each unit.We spent about $100K for 2 tiny houses, furnishings, a/c, roads, electric, and septic.

payable whenever we sell the house down the road (could be 20 years).Main advantage I see is a tenant I trust building equity for me in a home I want to move into anyway down the line.

There's enough demand right now that the seller would rather have you cancel and the next person will come along this weekend and probably not care about asbestos.It's safe to assume that if a house was built between the 1930's and the 70's some kind of asbestos-containing product was used in the construction.Also keep in mind that if you get it tested and there is asbestos (i.e. you know about), you must disclose that fact when you sell it down the road. 

Scariest;  first ACCEPTED offer, signing all that paperwork going into escrow (after reading and understanding EXACTLY what it all means), Second scariest; @ 2 weeks into rehab (doing most of it myself), looking through where walls and floors had been, wondering what I had gotten myself into.Funniest with a Halloween theme - one fine early Sunday evening I get a call; "The stove is possessed" my tenants announces.Turns out the stove had spontaneously gone into clean mode.

Down the road I am certainly interested in possibly doing some flipping and purchasing large apartment complexes.