You are really trying to jump into the deep end of the pool by starting out in notes as a newbie.

I can say that I bought my park at a discount knowing these systems needed extensive work.  

I would also recommend focusing on a specific segment of the industry -- i.e. discount retail, fast food, banks, drugstores, etc. -- and farming that within a few dynamic trade areas across the country, as opposed to taking a "shotgun" approach and trying (likely futilely) to master everything.  

I am neck deep in a project now where roughly $100k was needed.

@Joe SplitrockI laugh when people think the people that started buying when the market took a deep down turn, were lucky. 

James Curnutt - affordable lawn Kings - 405- eight one six -5251 - tell him you want the Tyler Weinrich discount

You find out the cost to fix the roof, get the appropriate discount off the purchase price, say 150-200% of the cost since you'll have to manage the repair and you should be compensated for the hassle, then close and get the work done. 

Even if so, once you start NETTING less than 6% of its purchase price per year, there's not much safety margin - UNLESS you bought it for a genuine LARGE discount off its market value.

You will have to discount the property on top of whatever the discount amount is for that area.

I remember in the late 70s and 80s when the bank would call periodically, almost pleading with them to take a discount on what was owed and pay off the balance.