On my way to the landfill I came across a building that looked like it had just been painted and has a new roof on it.

Dollars to donuts in the report you snapshot that from, it's an extremely negative number in your calculator.We all have different risk profiles -- I want to make money even in down years, or difficult years, when I have big CAPEX items to pay for (you will, roofs, appliances, turnover...they all need to happen and cost time, money, or both), tough vacancies to fill, etc.

Unless your roof is leaking, then do that first.

Thank you for sharing your experience as a landlord and investor in this area.Yes rental market in this area has been over the roof over the past few years.

the IRS considers that boot (profit you're taking out) either in the form of cash or a reduced mortgage. 

It is worth that much despite the roof leaking etc, right.An ARV is an entirely different ballgame, right?

It may be worth it if you never have to replace a roof for example.

We went back & forth for 6 months & then he put on a new roof with all new sheeting & gave us back our EM, so we figured it was a dead issue.

Planing to replace 20 year old roof on Single Family home size 1800 sqft. 

Suffice it to say that any gas utilization equipment found to produce elevated/unsafe levels of carbon monoxide in flue gas is normally considered sufficient grounds by the gas company to shut-off gas to the property in addition to 'red' tagging gas utilization equipment responsible until such time the condition is addressed and no longer considered a threat to the life and safety of the building occupants.CO Poisoning Goes Virtually Undetected in a Professional Office EnvironmentIt's a cold, sunny Saturday afternoon in February and I've been given a reprieve in the weather thereby allowing me to use an outdoor scissor lift to safely access/observe a flat roof 24-foot above the finish grade (pertaining to the property for which I have been hired to conduct a PCA) without having to contend with rain/snow and below freezing outdoor air temperatures preventing a visual inspection of the roof much less conduct a higher level due diligent assessment of package rooftop units since gloves cannot be worn as they tend to interfere in attempting to access hidden system components such as air filter elements, blower fan motor assemblies, serpentine tube heat exchangers, etc. typically concealed from view in conducting a baseline PCA.