There were two decent sized holes in the wall that they had covered with pictures.  

Even the IRS says flooring only lasts fie years.I'd be hard pressed to charge an eight year tenant for anything short of holes knocked in walls.

BUT today I go to get the inspection, and there are a ton of issues AND I find a few holes in his story (for example, he said the tenants pay the water bill - talked to the tenant, not true).

Shoot holes in the this strategy. 

Hey everyone, In a never ending quest to add more properties to my portfolio, i concocted an idea and Id like to throw it out their to possibly have some people poke holes in it so I can see things I may be missing.Here it goes:Hard money loan- Thinking of taking 60k getting a 300k hard money loan to purchase 4 multi family properties that may need some work.

If it's nothing of personal value and low monetary value, I would probably consider dumping it and not saying anything.

For example, there was a hole in the roof of a condo. 

He or she will probably have to make a few holes to run new wires, but they will be smaller and in more strategic places than tearing out a whole wall.You can also get some stuff called "Wiremold", which is conduit that can be run on the outside of the wall. 

I can't imagine turnkey markets being cash-only markets, but I could be wrong, maybe you found a real honey hole.

@Shiloh Lundahl   For my 20,000  post and I wanted it to be something special.I contribute whatever success I have had to my Father... and as we move through this business life and I am on the back side of my career it will be measured with things other than Monetary rewards.