Landlord will pay the entire cost to repair the following items not caused by Tenant or Tenant’s negligence: (a) heating and air conditioning systems; (b) water heaters; or (c) water penetration from structural defects That's it!

(I did have a friend who is a waterproofer look at it the time I witnessed the outside flood, and saw water inside, and he indicated installing a sump may not flow enough and also allow an easy spot for penetration)2.

So embrace the pets and ceramic tile everything.

Be sure everyone entering and handling that mess wears some appropriate safety gear - breathing masks, at the very least, head covering, eye protection, good strong gloves resistant to penetration and disposable outer wear which is discarded at least daily, or as needed when heavy soils are encountered.Consider going hazmat compliant.

I also do not agree with the statement that a roof is an afterthought.The roof should be NUMBER ONE because it is the beginning and starting point for water to penetrate the building from the top down.

Fortunately for me...10 years later...After many twists and turns in life I've come full circle to embrace my ambitions of becoming a huge rei success story!

Not warped Sheetrock and wet joist.A wet ceiling joist means water penetration from the structure that is running unchecked.Bowed out Sheetrock means the board was wet from inside the wall and is pulling away from the structure.Sheetrock and paint are cheap, but a wet joist means something else is happening that can be expensive.If a nicer unit went for less money you need to get the price down based on condition/repair needs or walk....

It feels good to be embraced by so many and to have so much support.

I embraced my youth with enthusiasm and optimism.

Perhaps I haven't fully and completely embraced what it means to be a buy and hold investor.  :-)  It kind of sounds strange to me to hear people say, "just buy it right" but don't not invest because you think the market is too frothy (i.e. don't try to time the real estate market).