Furnaces (2006,2007), hot water tanks owned (2010,2011).Anyway I am getting keys on march 27 and are super excited to finally pull the trigger.

During the Phase I, we discovered that at some point there had been underground fuel tanks on the property.  

The market will have to seriously tank for me to be able or willing to buy that kind of place in the next few years.

Renovated 2 full bathrooms and the Kitchen as well as builtins in the living room for more storage.

tanks!

Venkatesh,I would add one other item that can cause an issue getting coverage, In Ground Tanks. 

It was a 3 bedroom, 1.5 bath, 2300 sqft on 1.7 acres but it had closed off walls, carpet in the kitchen and bathroom, garage that had been converted to storage closets for the old hoarders that lived there and the list of quirky stuff goes on and on.After closing I was going thru paperwork and found that the previous people took out a $70k HELOC 5 yrs prior and put on a new roof/gutters, siding, water heater, furnace, new concrete driveway, extra insulation in the attic, and some foundation repairs. 

I have been to many seminars on the subject and been watching a lot of youtube.It's hard for me to get involved in with realestate because I am in a chapter 13 and don't have a money or savings for a deposit.I am studying for my license currently in the hope's of getting into investing and also chicago has the law were u can't buy more than one property at a time without having a realestate license.I am looking at the BRRR method, storage facilities and other investments. 

In my case, I have residential rentals in one LLC, commercial properties in another, self storage in a third, and my real estate company operates in a fourth.

Tanks in advise :)