The numbers are as follows:Sales price: $115,000Insurance: $452/yearTaxes: $1252/yearUtilities (gas, electric, water, sewer, trash) (Unfortunately two of the units share a meter, so these are paid by the landlord for simplicity sake): $300/monthRents: $1645/monthThe roof has been replaced within the last year.  

Machines will need replacing causing a lot of capex outlay eating profits.

That said, if you own a property long enough, you will need to replace a roof and could need tuckpointing and probably a sewer line if it's still the original 90+ year old cast iron. 

Spreadsheets will tell you what to do from there.As for the PM....yeah i'd replace them too.        45k investment plus maybe 5k in damage/treatment isn't a horrible deal.   

The kitchen already has hardwood floors, which will be replaced for uniformity.

My wheels are turning. 1 deal a month replaces 4-6 weeks of working for someone else's dream, giving up sleeping in my own bed, missing my family, and working 70 hour weeks.

I had to have the carpet replaced, get the trash out and much more ...It's surprised that there were no leaks on the first day when the water was turned on.

Can you replace all the carpet?

As an example, let's say the agent discloses that the seller/flipper replaced the HVAC. 

If a water heater is expected to last 10 years and the replacement cost is $400 then we need to set aside enough money each month to ensure that in 4 years we have enough cash set aside to replace the 6 water heaters.