She bought a condo with lower-than-average dues, but a few months in, the HOA announced a special assessment for roof repairs.

Sellers generously accepted because they know some things need repair.

We offered 30K under asking and got it under contract, after the inspection we were able to renegotiate another 10K off of the property due to repairs needed.

Keep it straightforward at first, but know that experience is the best teacher—mistakes are part of the process and will help you learn.For ARV (After Repair Value), start by running comps (comparable sales) on recently sold properties in the area that are similar in size, style, and condition to your planned rehab.

I understand a fixer-upper would require a lot more work in accurately determining repair costs, finding good contractors, etc., but I think the learning experience would help set me up better for future deals.

There are also some exceptions to convince the underwriters to use leases if there were major repairs for that house/unit proving that the schedule E numbers are not showing the full potential return, then you would be able to use the leases as an exception. 

These can be used for things like payroll but will get trickier when talking utilities or repairs & maintenance as a lot of those have to do with how old the building is or what condition it's already in

Quote from @Addy Chupa: When analyzing deals, I usually include a 5% vacancy factor and 5% repair factor based on annual rent.

@Randy AchiTo start flipping houses, learn fundamentals through books, podcasts, and online courses, build a network, start small, and practice repairs.

Most of the Flippers want to be around 75% of ARV minus repair cost or lower.