I would make an appointment with the state or county health sanitarian and go over this before I pulled the trigger.. 

@Daniel Tisdale  Like most things in life and investing, it depends!

Roof that is 15 years old with a 20 year life span will have to recoup the costs in 5 years. 

@Mike TerrySelf-directed IRA funds can be invested into virtually anything except collectibles and life insurance contracts.

If you really want to buy this occupied duplex, think about rich people in your life who may be much cheaper than hard money.

,I'd like to start off by saying I am very impressed at the varying levels of expertise represented on this site and that I only wished I would have learned of all of these opportunities earlier.A little background on myself, I 32 years old, a Texas Native (Houston Area) and for most of my adult life I have been employed (comfortably) in the oil and gas industry.

I, personally, would reserve $100/mo. for capex in your situation.One thing most folks miss in this stuff is the waste line to the street unless its brand new your going to replace it for 3 to 5k as well over the life.. along with plumbing fixtures etc and maybe even a replumb under the house along with dry rot etc..  

My father was their attorney for several years, and ultimately took his life over their illegal and unethical business practices.

Without further ado, here are the final details:Purchase price in 2018 - $210,000Sales price in April 2022 - $450,000 (cash, no inspection, no contingencies)Net proceeds - $249,000With initial out-of-pocket investment of $27,000, the return is a 9.2x multiple, or 84% IRR, which is by far the best real estate investment we've ever made, and gives our daughter a great start on her financial life.

But the reality is that even if I had enough money to live for the rest of my life, this is the thing I do that truly makes me happy.