They look nice in the photos but when you actually walk through the homes you can see so many unfinished details or areas that just weren't repaired at all. 

Here are the details :Single familyYear built: 1985Price/Sq Ft: $110House size: 1,783 sq ftStories: 1Lot size: 5,711 sq ftGarage: 2 car GarageHeating: yesCooling: yesConstruction: Wood FrameYear built: 1985Year renovated: 1985Property type: Single familyDate updated: 02/10/2016Units: 1Fireplace: Yes

Thank you for your detailed post @Mark Elliott.  

I can go into more detail with you if you want to connect offline.

Hard to detail out every single question in the directions.Lastly, I learn this lesson way too many times.

Insurance, contractual agreements between all parties stating all details, hold harmless agreements and make sure the agreement covers the worse case.

Generally the cost of hard money will trump that little extra bit your CPA charges you... by a lot.Done this way, I've had REI with multiple properties have a negative number on line 21, but still calculated as cash flow positive because that level of detail on the tax returns (and adding back depreciation) allowed me to do so.

The seller is responsible for fixing a few code violations (super small details like locks on doors).  

Although the how it works section seems really detailed and kind of opened my mind up to what to ask from sellers so I can obtain actual data vs the Pro Forma Data....

Alternatively, based on just a few simple pieces of information that are readily available, make a quick decision to move on to the next opportunity or gather more information for a more detailed analysis.To put it in different context that I think a lot of people on the West coast can relate to.