Also, can you provide some examples of clauses to include in the addendum?

Calculate your bottom line using 70% of ARV (After Repair Value).Do not spend more than (.7*ARV)-RC (Repair Costs)Example: House is appraised at $100,000 *if repairs are made*...7*100k = 70k.Repair costs are expected to be $25k. 70k-25k = $45,000 (DO NOT BUY THE HOUSE IF IT IS OVER $45k)Take another look at the ‘going rate’ of rent in your area, make sure your cash flow is enough to cover ALL costs and include a buffer for taxes and unexpected repairs.Look at the property yourself - try to eliminate assumptions.Have a trusted professional assess and confirm info about repairs that may have been overlooked.Look at how much work you can do on your own and compare it with contractor rates to complete all repairs.

For example adding an Amazon box, lighting, or something of that nature?

If you DO include any utilities, you MAY be able to leave these outside the lease agreement.. example, lease reads no utilities included & agreement X reads they pay you $____/ month for ______ utilities and that you may change this rate with 30 days notice.

Andrew,Another option would be to do part of the labor yourself for example tearing off the old roof on a house that small should be an easy one day job.

For example, just looked at a listing with an experienced agent.

Two prime examples are OH and FL.

I'll give you 3 examples of deals I've done:Seller #1: Was an 'accidental' landlord, meaning, he didn't want to be one but kind of stumbled into it.

For example, do I give a 50% of cash flow and 50% when we sell?

For example, I’m new and been driving for dollars writing letters to physically distressed properties.