My wife and I own several duplexes, but have an opportunity to buy a townhouse below market value.

@Tasia Larri I would definitely try to keep it at 4 units and below for a house hack.

Below is a link to my expense/cash flow worksheet I use for my properties in Lake Tahoe area for some further context.   

A more appropriate offer price would be $60k  (or 33% below what they are asking; don't worry I have been seeing these ridiculous prices all year when analyzing deals)Assumptions:Downpayment - 25%Closing Cost - 2%Amortization - 30 yrsInt Rate - 5%Materials - 8% (of gross rents)Maintenance - 8% (of gross rents)Management - 8% (of gross rents)Capex - 5% (of gross rents)Reno Budget - $5kI hope this helps and make sense.

Sellers were motivated to move quickly and we were able to secure a price way below market for an easy assignment to a rehabber.

I would have no issue repairing the screen; I do not consider a torn screen to be acceptable on a B property (it is more something I would associate with a C and below property). 

*Sales of all segments grew, except homes below $150k*Sales in the Luxury Home segment ($750k and above) were up the most, 12.3%, in November '18.Below is the Houston Association of Realtors monthly update (with video) for more in-depth info and commentary for those who are interested: https://www.har.com/content/mls

As they're demoing the roof (and making a HUGE mess around the property, tar and gravel roof+ pine needles being thrown around the yard with no tarps), he comes back and tells me that spacing between the decking is too far apart compared to code, and it's going to be an extra $3,500 to redeck the entire roof (could have told me this when he gave me the initial quote, wasn't hard to see that).

Hi @David Kirkland, I am copying and pasting below a list I made on another post :) In regards to fees:1) What are your monthly management fees?

He recently started his small business for deliveries (i.e. mulch, soil,  sand, gravel, caliche, etc.) and lawn service.