Went by the house and estimated repairs to be about 26k.  

The management firms will arrange for necessary repairs after purchase and then take over managing the place. 

Anyone know of an experienced foundation contractor who can inspect and repair/replace piers?

In this case, it doesn’t sound like you can prove that the tenant caused the damage, so it’s going to be on the owner to cover the cost of the repair. 

This damage is equal to the current cost to repair/mitigate the issues.

Exactly, your vacancies, expenses, turn over, repairs, etc are Way more than $20k/year.

Kyle,One thing to keep in mind when running the numbers is vacancy and repairs.

i am married, my wife  [ 60 y/o ] is also disabled due to no kidneys and is on Home Hemo Dialysis, but she spends hours everyday looking through real estate , and though we have found several great oppurtunities, we have no been able to capitalise on them due to out low income and crummy credit ,  [although when i moved here i had 621 score until when I tried to refi through Loan Depot, they really messed me up and I am not sure what my score is now.]I think the first thing I need to do is repair my credit as best as I can, as well as see what kind of assets and value I have to help me get the investing process going. [ kinda long story packed with lessons there]  Due to a small windfall we have $5,000 earmarked for beginning real estate investing in hopes of getting our of our crushing poverty trench.I want to begin by doing non rehab wholesaling,  but am also wondering if Tax Lien investing might allow me more bang for my few bucks. 

The building for sale is exactly like mine so I’m familiar with many of the standard cost (insurance, taxes, hoa, general repair cost).The seller list in his remarks that it has a 9.2% cap a couple different times.First off, the auto generated cap rate from the MLS doesn’t even list that, it lists 7.64 based off the numbers entered into the listing.As far as the numbers entered:The income ($33,060) minus expenses ($8,965) does not even equal the posted $21,000 NOI.

My team does routine repairs up to and including full rehab.