Because something like "home repairs," say the roof or the water heater or "leaking pipes" as you mentioned. . .I don't see my state making the tenant pay for that stuff unless they are responsible for the failures of those systems.

This is a C neighborhood.Building has leaking pipes in the basement, built in 1910, all 1 bed rooms, 1 bath, old style windows, no insulation, needs new roof, 3 furnaces and the list goes on.

Plumbing, heating and cooling, electrical, roofs, and drywall finishing are for the pros Demo, hanging cabinets, painting, hanging drywall, some flooring, and other things I can do myself.

Consider a roof leak and all the damage it can do.I imagine that with the upper level owners someone like Rachel deals with, it may not be such an issue, and maybe she may not have as high a default rate as someone who sells more lower-end homes.

Keep in mind thought that the vast majority of these people are not going to be interested in selling their properties at a steep discount.

I spoke with the agent and the property needs work...foundation and the roof has hail damage....also, needs new carpet and a few other interior items.

We don't have chimney-specific contractors in Florida and all the roofing contractors don't want to touch it.

When I bought it in 2005 I put on a new roof, int/ext paint, new flooring, new kitchen & bath, new apliances, plumbing, electrical, central heat/air, garage opener, water heater, fence...basically everything! 

For some perspective, that seems like enough money to buy appliances and a hot water heater every year, or replace the roof every 4 years...again, I think.It just doesn't sound right to me.

If we discount future rents using discounted cash flow (DCF), shouldn't we also discount a deferred expense like roof replacement?