The best thing to do in these scenarios would be to find reputable investors and see what they did that worked with their investment property as well as see the mistakes they made during their process, if their situation fits closely with your own. 

@Michael LyonsDo you see the value of the home further appreciating in the next three years?

Sometime, negotiations doesn't go our way, but we always have to look at the exit strategy, to see the big picture.

Inventory will continue to climb, prices will come down when sellers are desperate.. that's when we will see the next shift in the market.  

Investing out of state takes more systems and you can't just go see the property whenever, unfortunately.

Also he has not mentioned to me who the company is that's managing the property and won't give me the rent roll to see the most recent financials. 

I still don't see the condo as they way to go.

You can do this by individual work order, set a max budget for the whole year (we let you know if you're tracking towards going over, or both (both is recommended)You'll also see the work orders and receipts but that's mainly because people need them for their taxes. 

It doesn't hurt to ask.Regarding future replacements that need to be made - The improvements may need to be made tomorrow, next year or even in 5 years.It may be good to have a contractor go in to see the actual items that need to be replaced and what can wait.Spreading out the replacements over a couple years is better than them all having to be done tomorrow.Good luck in your purchase.

Please see the post on my blog from yesterday and pm me if you have any questions.