If you want to purchase rentals you are going to need that extra cash for an emergency fund in case you need to replace a roof or a water heater goes out, or for any vacancies because these things will happen.  

Having already been through this before I know they will hit is for missing siding, the whole said of the front building needs to be re-graded, the roof needed replacement and is causing water damage.

Hey David,I've never flipped a slate roof but I have some experience with them.

Thanks Joshua I forgot to mention it's a foreclosure for the amount of 124,000 comps are 190-200,000 but needs a new roof and kitchen.

New roof, carpets, and paint inside and out. 

I love how he comes into a home with owners who think they have a small leak and all of a sudden they are tearing out the basement and redoing the roof.

She is in need of cash because she told me she had to sold dirt cheap one duplex just to get money to fix her roof. 

My parent built a house with electric heat way back in the day and then when it was done electric heat went thru the roof so they took a lose on the house just to pay off the money they owe.

Rents are 2br $867 month to month, 3br $850 leased, $650 month to month.Taxes are $3100/yr.Other info from listing on site: New Roof, Updated 3 Family,Long Term Tenants, 21K Profit Annually, Fireplaces.

He tries to convince you to install a laundry room because he needs to get rid of his washer and dryer, He installs a sun roof because every time he installs a light something burns down.