The audit made several recommendations including, insulating the roof cavity on the building.2.

I'd rather pay an insurance deductible for a new roof than have to buy a new roof but I do get nervous when those hail storms approach. 

A new HD architectural shingle, lifetime roof was added last month.

I would encourage you to pay for your own roof, pest, and property inspections  and if  identified  as in issue in the property inspection, a foundation issue get an  inspection done with a repair cost estimate.

Size:  Above Ground 1,660 sq ft/ Unfinished Basement 350 sq ftI'm looking to update below items:Exterior: New roof and window (as needed)Yard: Cut big 2-3 trees in the backyard, clean front yardInteriorBasement needs mold remediationNew kitchen (cabinet, appliances, & etc)New Bathroom (2.5)Move/remove walls Add ceiling wallAdd insulationelectrical work (if needed)plumbing (as needed)new paintNew floorIt pretty mush needs a complete renovation.

Size: Above Ground 1,660 sq ft/ Unfinished Basement 350 sq ftI'm looking to update below items: Exterior: New roof and window (as needed)Yard: Cut big 2-3 trees in the backyard, clean front yardInterior Basement needs mold remediationNew kitchen (cabinet, appliances, & etc)New Bathroom (2.5)Move/remove walls Add ceiling wallAdd insulationelectrical work (if needed)plumbing (as needed)new paintNew floorIt pretty mush needs a complete renovation.

Also, the house probably needs $30k of work done to it (roof, a/c, fence, backyard patio, etc).

If it was a basic renovation, then $900-$950.Had a quick look at permits and there seems to have been a couple of roof patches in 2006 and 2008 but not full replacement, so you would want to verify that.

We actually take a portion of our gross rents and put them into a savings account each month in anticipation of future large CAP EX expenditures such as roofs, heating/AC units, appliances etc.The rest we leave in our checking and cash flow other smaller repairs, make readies, pay for mortgages and utilities etc.In addition we have a credit card we use exclusively for our properties.If nothing else this helps when it comes time to do taxes.

Turnkey providers should have everything all under one roof for out of state investors (If they use anyone outside their company, walk away.)