I used post it notes and stapled them to the studs where I wanted all the outlets and switches.

Deal breakdown Asking price: $700kCurrent Market Value: $675kRepairs estimate: $25 -$35kARV: $710 - 725kSeller Mortgage: $430k @ 2.75% 30yr with 27 years remaining USDA loanHELOC: $70k - seller requires this paid offTotal debts against property : $500kSeller is asking for:HELOC paid offEnough cash to pay off their other debts estimated at $110k give or take.Rent back agreement at $3200 / month until they secure their new home Seller will carry back the remaining approximately $100k for 10 years at 0% and a lump sum payment of $10k each year on November 1st beginning next year.Seller agreed to a sub-to as long as payments are made through a licensed loan servicing company.So final numbers look like this:Mortgage : $2480/ month PITIRent Income: $3200/ monthCash down : $170k Positive cash flow of $720 / monthProperty is a 3 bed 1.5 bath 1915 square foot two story on 4 acres, large shop 2400 square feet, barn 1800 square feet, house was built in 1995, some updating has been done with all new stainless appliances, new LVP flooring on main floor, new sinks, faucets, toilets, light fixtures, door hardware, electrical outlets and switches, wall heaters and thermostats are new.

You just have to keep your eye out. Let

This is a stopgap obviously, and for a permanent solution I was wondering if anyone had any suggestions for a device that connects to wifi that could monitor outlet-specific usage, so during a rainstorm I could check on my phone and be reassured that this specific outlet the pump is plugged into has been active for 20 minutes in the past hour, for example.  

AT MOST i have had them test my outlets and find that it didnt have a ground and the fix for that is a ARC Fault/GFCI Breaker on that circuit.  

The purpose is to have a financial buffer to rely on in case of unexpected emergencies or hardships.

I would stay away from smaller buildings, even if they have tax abatements, because unexpected capex can be crippling among fewer owners, and smaller buildings can more easily fall out of Fannie Mae compliance.

How much cash/financial reserves on hand do you recommend I have for unexpected expenses (building: 50k-60k sq/ft, 10-12 commercial grade HVAC's, building is about 36 years old)?  

The TV shows fail to show the bankroll behind the deal, the number of contractors working when the camera is not rolling and the issues that invariably come up on a flip that were unexpected.  

After job completion, he mentioned that one of the electrical outlets in the kitchen wasn't working right.