Penetrations/cracks in the building covering: This is common with stucco.

It was the “worst house on the block” but needed heavy cosmetic work to make it one of the best on the block.

It is very possible that he wants this to cover himself in the event that he sends you leads on Sellers that may be FSBOs or not represented. 

The Numbers:4x 2 bed / 2 bath 1,000 sq ft unitsPurchase Price- $175,000 Appraised at $215,000Term- 25 yearsInterest- 3.625%P&I- $856.79Taxes- $358.83Insurance- $195.00PMI- $119.00Total mortgage payment- $1,529.62Water- $225.00Vacancy (5%)- $125.00Repairs (5%)- $125.00CapEx (5%)- $125.00Gross Rent (3 units) - $1,875.00Almost all expenses are covered by the rental income.

If you need to sell sometime in the near future, you may have the seller's costs covered. 

They send (students) out like an army of ANTS  to do the heavy lifting analyzing and finding properties.

(Not a live in flip) He also was wondering if he should refi his house, pull 75k out, pay the vehicles off and put the rest down on a new house. rent the original house out and take that money to pay the refi mortgage, the rent would cover the mortgage plus an extra 150 per month ..I’ve been telling him about refining his house and use that towards a BRRRR or some other real estate investing.

All the window coverings are in, the yard is sodded & possibly landscaped, there is probably a sprinkler system & fence – all thing you may have to pay for separately with a new home.

I cover that area and would be more than happy to connect to learn more about your goals and what you are looking for.

Other openings between the garage and residence shall be equipped with solid wood doors not less than 13/8 inches (35 mm) in thickness, solid or honeycomb-core steel doors not less than 13/8 inches (35 mm) thick, or 20-minute fire-rated doors, equipped with a self-closing device.R310.4 Bars, grilles, covers and screens.Bars, grilles, covers, screens or similar devices are permitted to be placed over emergency escape and rescue openings, bulkhead enclosures, or window wells that serve such openings, provided the minimum net clear opening size complies with Sections R310.1.1 to R310.1.3, and such devices shall be releasable or removable from the inside without the use of a key, tool, special knowledge or force greater than that which is required for normal operation of the escape and rescue opening.R314.3 Location.Smoke alarms shall be installed in the following locations:1.In each sleeping room.2.Outside each separate sleeping area in the immediate vicinity of the bedrooms.R315.1 Carbon monoxide alarms.For new construction, an approved carbon monoxide alarm shall be installed outside of each separate sleeping area in the immediate vicinity of the bedrooms in dwelling units within which fuel-fired appliances are installed and in dwelling units that have attached garages.Note: In Washington State CO alarms are required on all homes sold.No egress thru other bedroom?