At a 25% tax rate you pay (take your pick) interest, repairs, management or any other expense ONE DOLLAR in order to "save" TWENTY FIVE CENTS on taxes.

The house needs some repairs in the basement...the foundation may have issues.

You need to make sure that you set aside money for maintenance and repairs on the property.

I have a chance to buy on a lease option, do minor repairs, and sell easily for about 10k profit.How does this work when I sell the property?

Sounds like you got a lot out of it anyway with getting comfortable estimating repairs.

The house would retail for $112,000 with some minor repairs.

Usually 70% of after repair value.

I even gave him half of the rehad money for repairs $1,500.I called him numerous times and he doesn't call back once he did to tell me he is on vacation and the work will be done in one week, but it wasn't.

It needs very minor repairs, the landscaping needs cleaning up.

Nothing really prevents you from going back and asking for minor repairs after the home inspection FIPO, but it makes the seller feel like you won't and you still get a professional to tell you if there are any major issues with the house.