We went over the exterior and mechanicals too.

Now, you could have a leaded shower head LOL and of course, your local city water mains are still all heavily leaded.Here is an interesting article to get info on.Plumbing and Mechanical article

2) How does this mechanically work to have so many separate accounts.

Unless you're using the payment as a screening mechanism.

@Brett Snodgrass   Thanks,this is the mechanical approach I've been looking for.This along with the other advice I've been getting , will help me out.

Not sure but I would assume in FL things like:are they wood frame and what about termitesIf built on a slab (or even if not) what about the plumbing...I think that can sometimes be a challenge--  where I am there is typically a basement so if there is a plumbing problem in the house it can be accounted for, that said, I've had to adjust my offer price a number of times after inspection because the older cast iron drain from the house to the street needed replacedReally not sure how the 1960s electric would be in FL / or what amp service but typically seems okay here as long as it is copperI would spend some extra time on evaluating the major mechanical items --  electric, plumbing, heat/ac, and of course the impact of termites...even still as long as these are known and calculated into the deal you should be okay

I brought the 2012 Silverado to a mechanic before I bought and found it had large holes in the truck bed from a 5th wheel attachment.

I assume some of this cost will go to the exterior for aesthetic improvements (paint, landscaping, signage, etc) and some will go to deferred maintenance (new roof, new boiler, repairs to mechanicals, electrical or plumbing systems, site drainage, sewers, etc).

Real estate investing is great because we're not necessarily re-inventing the wheel - not that there isn't a massive amount of creativity put into getting deals done - but the general mechanics are relatively straightforward and have been done thousands of times for centuries.

Also, I provided funding (private money loans) for three multi-family flips in Chicago market, done by an experienced local investor, where I was able to familiarize myself with a mechanics of a successful flip.