There are a lot of potential risks, however, the good deals are good enough to cover the bad ones. 

I also agree with using quality mechanicals.

Maybe the current brick color woild not be all that bad after doing something with the trim, shutters, paint doors, etc.

But not all debt is bad (i.e. money you borrow from the bank at 7% and re-loan out at 20%, thus making 13% with other people's money).

Just curious: with whom were you communicating that pissed them off so badly? 

Many repairs take time, and you shouldn't feel bad about that as long as you are doing what you can do get the repair in process and let your tenants know you're working on it.

The condition of the home isn't in that bad a shape. 

The quality matters, so be careful what you select.

The house that i am looking into buying is in centerpoint alabama and purchase price at $100k.The major concern that i am having are:The roof is at end of life.floor joist needs to be install due to flooring bad deflectionThere are broken cement at the patio / deckPossible water leak to the basement walls.i just don’t want to be the person who ends up with the expenses the previous owner should be taking care of.Can you give an advice on how to deal with this property?

Analyzing one deal per day (since January) has proved to me that there are properties out there that you could get for free and it would still be a bad deal.