Hi, I've posted about the concept of out of state investing before, but just had my inspection and getting ready to close on a duplex in a month. the inspector was very thorough and said this was a good buy considering the price and the condition of the property and not having to do much work. 

But when it came time to plan for our retirement,  verse 16 popped into my head "She goes out to inspect a field and buys it; with her earnings she plants a vineyard". 

Hey @Sam Choi I have a rental in Puyallup which I purchased many years ago, before I know anything about cap rates, or ROI, or ARV, or tenant screenings, or property management or even that one should get inspections before buying.

I have two owners that bought within the last year and are still cash flowing (although I only charge 25-27% management fee, not 40, which is closer to average).

It may be worth an offer below asking, and then pending the inspection you could knock major money off, especially if it's a foundation issue.On a similar note, I would look at the current owner, how long they owned, what they bought it for and their ROI, etc...

Your going to run closer to 60-70%expense ratio to run this.  

Inspections / appraisals if possibleA promissory note and mortgage

I have ask my landlord to replace my carpet since it's been over 10 years since I moved in she has agreed to replace the carpet on several occasions  however stated that  the property owner needs to come and inspect the carpet to make sure that  it is not  above and beyond normal wear and tear it is my understanding that in California the carpet should be replaced after 10 years  it is has bugs in it  there is no padding left  it is filthy grungy and it's already been cleaned twice and no  difference  because I am diabetic if I can have it replace laminate flooring that are being installed and all the  recently vacated units  which are being renovated I asked her on several occasions if I can have laminate floor instead of carpet and she stated that they cannot install laminate flooring in upstairs units due to the noise however I just discovered that the unit adjacent to mine on the upstairs floor  just  was renovated and they installed laminate flooring as this discrimination can I demand  this type of flooring  and ask  her about the new laminate flooring on the second floor policy and why I am unable to  have the same  can I demand that type of flooring or do I have to have carpet  I also feel she is being discriminating against me for no reason  she has been short when I ask for repairs  I asked to move to the downstairs unit and she gave me a whole rant about how she doesn't think that the property owners would allow me to move down there based on my rent being late once or twice  and a bunch of other reasons which I don't think it's her business  to point these things out to me or rather she should just give me the application or instructions on how to go about it and let the property owners make that decision  do I have any basis for discrimination  complaint against her with the fair housing authorities  California

Mike were talking about you today, He just got an Email from Ben Frederick saying some of the new inspection standards will likely change.

I bought a property, whole sale, no inspection, etc.