@Joe SplitrockI am a contractor, drive a Ram 2500 ProMaster High Roof, that’s neatly loaded with almost every tool I’d ever need, along with tons of “parts”, plumbing repair stuff, electrical, etc etc. you name it, I probably have it.

Floors, kitchen remodel, paint, roof, double pane windows, minor landscaping.

I know that I am looking at needing some pretty major repairs (new roof & windows) in the near future that are going to be large out of pocket expenses that won't actually increase the properties value at all.

Additionally, we know that we're going to need to refinance into a 30 year fixed loan, because our ARM is going to change rates in 2021. 

You also have to look at things like CAPEX (does it need a $50k roof, or $80k worth of new HVAC equipment?)

Funny how I thought "All I need is $xxx" But then comes the need for a new HVAC system, or roof, and then comes taxes, and the realization that I have college tuition for kids… and all of a sudden I realize: I think I need $xxx 10x to be *net* where I want to be! 

NEW 50 YEAR ROOF!

NEW 50 YEAR ROOF!

Please let me know what you think.Property SummaryForeclosure3BR, 2BA, 2190 sq ft2 acre lot$65k asking priceARV of $165k (possible), most likely $150kNo garageSlabVinyl sidingWell & SepticProperty is owned by HUDLed based paint noticeRepairs NeededSpot replacement of vinyl sidingFlooring throughoutBathroom remodelsKitchen cabinets are good, but need to be paintedPossibly roof replacementFacia board replacement all aroundGoodHouse has a bonus room, which can be converted to a 4th bedroom.Windows are goodFlat lot, big lotBuilt in 2005, so pretty structurally soundRisks/ConcernsPossible HVAC replacementHas a well.

I started from bottom to top of aloped flat roof.