Like if a place needs floor repairs the deal is good, but if it needs roof and floor repairs it's not?

So decent roof, trim and railings, floors, walls, doors, windows, no peeling paint. 

I am working a refi now about 4 years out and the jury is still out on the appraisal but I do not anticipate an issue now since FL appreciation has been through the roof.

I've built a triplex, have another completed plan that is approved, have converted buildings to take advantage of the 2040 plan and am involved in other aspects in small scale development. 

Here are just a few examples: missing handrails, no gutters or broken gutters, exposed subfloor, exposed wiring, insufficient heating elements, dry rot, mold, water damage, rotting or leaking window sills and trim, appliances that don't work, deck and fence in disrepair, wet basements, peeling paint, roof over 20 years old could get called out.Hope this helps and best of luck to you!

Cash flow positive or negative is only 1 small aspect of the buy and hold deal.

Lastly, I would build in some replacement reserves into your figures as roofs, HVAC, water heaters, appliances, etc. all wear out over time and need to be replaced. 

@Jesse Rodriguez the limit of coverage you should decide on depends on your risk tolerance and property characteristics.Risk tolerance Example - If you have an old roof, an Actual Cash Value policy may only cover 50% of the replacement of it. 

. - When I replace a roof, I'm replacing 1 instead of 3.The list goes on and on, but those are some basic examples.

I understand anything can happen, but I know this house has good roof, windows, and basically everything else.