I have no issues with doing things like replacing appliances, HVAC, roofs, etc.

It was noted during the appraisal and bank is calling for roof and foundation inspection

We know a great young guy who owns a roofing co, but has been investing in MF in Lancaster city.

I'd start with a few:Droopy ceiling fan blades - Excessive moisture trapped in ceiling and attic, possible mold spread inside, plumbing problem, roof leak, soggy studs, possible damage to electrical wiring.Cracks on the ceiling - Possible foundation problem, roof leak, or storm and hail damage to roof.Soft spot or dip on the floor on 2nd level - Workmanship on flooring cover, water damage to wood underneath, renovations done from down stairs ceiling created damage.House extension not built on slab or same foundation as the house - Difference in foundation and level.

The property has been vacant for 3 years and needs about 25K in renovations (paint, carpet, appliances, roof repair, etc.).

One thing you did not mention was the condition on the homes when you bought them ( how old they were , how old was the roof, HVAC , other big ticket itemsken

I can't imagine 10 year old windows carry the same weight at brand new windows or a 5 year old roof carries the same weight as a brand new roof.

Duplex 2bd 1b upstairs 1bd 1 b down 1000 month total rent 53,900 seller pays closing20% downMonthly................ vacancy 80 capex 100 insurance 35 P&I 272.80 repairs 50 water 35 PM 100 tax 75 New roof in 2011 Separate utilities new water heaters and furnace 2011 aluminum siding no gargage cash flow 252.20 11.69 cap rate opinions??

I got dinged for a roof that was to be replaced with some of the loan proceeds, but he didn't wouldn't say that a new roof added value (huh?

(I used to do replacement cost, mainly because of hail damage we get down here on roofs but I've decided as a matter of practice I don't want to be filing a bunch claims every time there is a hail storm.)