I had an engineering student ask if he could build a deck himself and whether I would contribute toward materials.  

We are getting mixed responses saying we have to remove and replace all the trusses and roof at approx $60,000 to cutting into existing trusses but only gaining height in a 12 x 18 ft area.

You'll see if the carpet needs replacing or the refrigerators are from 1956.Another focus is items that have nothing to do with the physical condition of the house.

. :)And between umbrella policy and liability for each property (with replacement cost, not current value), I hope I'm adequately insured.

I am an Army Engineer Diving Officer, and I am a young investor in Panama City Beach, Florida (25 years old) with two properties currently.

As such, I expect my repairs cost and vacancy to be lower (will be going with home warranty $500/yr), other portion of repairs will deal with tenants induced repairs and carpet replacements etc...

Can someone recommend a structural engineer?  

I graduated from Virginia Tech three years ago (I'm a youngin) with a degree in Computer Engineering, and have worked as a software engineer since then.

Carpet has to be cleaned and or replaced and I hate that expense. 

Attend auctions, don't buy, just look and be aware of who is bidding and what's happening.Get on mailing list of all auction companies in your area.Have a fiduciary buyer's broker working for you - you want to be supplied with all expired listings in your investing area, all new listings; land, commercial, houses and lots.Learn "Contract Engineering", clauses; right to assign, delayed settlement, study periods, hybrid offers - etc.Look at 50 houses, don't buy or make an offer on any of them until you feel you KNOW the market.Have fun, this is a great business - enjoy your wealth. :-)