The property has a few broken windows with boards up over them, an interior door off the hinges, rot on the bottom of the cabinet under the kitchen sink from a leak some time ago, water seeping up from the concrete in a back room making the carpet damp if it rains a lot.

But after I have had guests complaints with things like forgetting to empty trash, food left in the oven, no towels or soap in a bathroom I have reconsidered it, and starting over with a new crew.

@Rebecca Knox thanks for getting back to Rebecca!

Forget the small ticket items and split the Roof cost.

You should run it for a few hours, then open all the windows and air out the property.

Landlords make more money here on appreciation than on cash flow, however, don't forget that the cash flow is the key to sustaining your rental long term.My only other comment, is I think you are underestimating your closing costs.

I keep 6 months of expenses, plus the insurance deductible for everything (vehicles, rentals, personal property), plus the money for any major things I expect to replace in the next 5 years (e.g. roof, HVAC, windows)  are in the CAPEX fund just incase they die earlier than I expect their life to last.

Does anyone have any successful techniques for getting these off market deals.

Bay windows surround farm sink for view of backyard.

Without a good one , forget about it, it’s like walking in quicksand.