All new electric, plumbing, subfloors, floors, wall covering, roof...everything!

My first rental has a roof leak , my regular roofer is on vacation for a month .

She did not know the age of the roof.

I have a property identified for potential purchase. 1920 2bed/1bath new roof,  pipes,  water heater. 

The 10% is good for regular maintenance but when the roof, the HVAC or the plumbing goes you had better have some capital reserves.

Just always ensure the property fits your strategy and meets your standard baseline criteria (roof, mechanicals, bones, neighborhood, interior, rental market of area, and desired CAP.) 

You're going to want to look at the expected life on the major systems...plumbing, electrical, HVAC, roof, etc. 

Lately, the 50K, 60-65K three-units I've come across are in higher tax areas (around $3800 annually) AND they need substantial rehab, like a total roof replacement.

Today we came into the house another 1 week later, and my Dad yells for me to rush into the house.water has flooded the 1st floor as water is leaking through the ceiling.  

Today we came into the house another 1 week later, and my Dad yells for me to rush into the house.water has flooded the 1st floor as water is leaking through the ceiling.