Some of this will depend on how much exterior work you are planning or needing to do. 

Otherwise, there's a good chance I'll be eating shoe leather and I'm not partial to the taste (I know where my boots have been).However, I have walked other investors, looking to do their first flip, literally step-by-step, through each and every floor/room/attic of a house (and around the full exterior too) while they took notes and I'd give them a budget for each and every item identified.  

Depends on how fancy your exterior doors, interior floor and trim are.  

That fee isn't just worthless, it pays someone else to do all the maintenance to the exterior, painting, roofing etc... it also pays for cutting of the grass and snow removal and trash pickup.

It was basically book on practicing law, as opposed to something like the consolidated laws which can be harder to understand.Next time I am in the area I will get the title and update, but remember this was specific to Pa.

Although I am not by any means opposed to investing out of state, I would be interested to hear what any MD investors think of the various local markets, especially Hagerstown, which is one area I've been looking at specifically. 

Here are the particulars that have been provided:Purchase Price: 675KRents: 4,550 (1175/1175/1175/1025)HOA: 840 x 12 = 10,600Interior Maintenance: 2,000 AnnuallyEstimated Tax: 7,750HOA pays water/trash and all exterior.

As for the removal of snow and ice, the Code provides that the landlord shall maintain all means of egress at all times in a safe, operable condition and shall keep all exterior stairways, fire escapes, egress balconies and bridges free of snow and ice.

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40k can go a long way without any exterior work.