The house smelled and looked terrible, but as I dug a little deeper, I found that it was in pretty decent structural and mechanical condition.

The cost of implementing sub-metering will depend on how the property is plumbed (i.e. is there already a separate run to each unit from a mechanical room; are their T-lines running down the centre of each floor; or does the plumbing wander from one unit to the next (common in larger homes that have been converted into multiple units).  

While there are some differences in terms of administration, plan mechanics, and a few IRS rules, the plans are largely the same when it comes to investing in alternative assets inside of a tax-sheltered retirement plan.   

The location, grounds, mechanical set-up - I like it.

I don't have an issue with the POS inspections as they provide an additional inspection report for your due diligence, however they mostly cover cosmetic issues and do not provide any good info on mechanicals or structure.The escrow requirement can be a big deal if you are buying a distressed property as you will need to fund an escrow account with up to 150% of the estimate repairs cost before you are allowed to purchase the property.Another issue is some cities have much tougher inspection regimes than others, such as Maple Heights.

I am active duty Air Force with a degree in mechanical engineering and a master's in environmental engineering.

So I went into Mechanical then HVAC - designing many Clean Rooms, High Pressure/Purity gas and liquid systems up and down 128.Making most of my money part time in Real Estate!

It's not just a mechanical process.

If you're going to even possibly have to change out any of the mechanicals (hvac, water heater, etc.) or deal with major plumbing or electrical work I would get these done right away, too.

I live in Corpus Christi, TX & I am a helicopter engine mechanic for the Corpus Christi Army Depot.