The same is true for homes with broken windows, lead paint, or a busted roof.

It will need updated kitchen, bath, hvac, electrical, and minor roof work.

Not "Home Run" numbers but...Purchase 79,000rents 1,300 a month insurance 850/yeartax 1,500/yearutilities/basic maintenance (lawn/snow) paid/done by tenants79,000 loan at 5% for 30 yearsnot a knock out, but it has a lot of new work done on it (roof/furnance/siding/windows/plumbing/electrical) within the last 5 years...and it cash flows

It was built in 1952, roof is approx 15 years old, 3 older AC units, 2 older Hot Water heaters, 4 Gas furnaces appear to have 20+ years on them, electric is all up to date, appliances seem almost new.Owner has owned the property for 11 years and wants to completely get out of real estate (its his only property).

Most the time packing nuts can be tightened and stop leaking.

My advice is to update the home (toilets and plumbing, AC/heat, & roof) so you won't need much maintenance in the first place minimizing those calls.

You don't want to look at a rehab project like this:Bought it for 30, fixed the kitchen which adds 10 in value, put in granite counter-tops which ads another 5, replaced the flooring which cost me 10, fixed the roof which cost me 10, replaced the windows which cost 5 but adds 10 in value, so the ARV will be the sum of all of this.

RE is hard and takes work.....if it were easy, everyone would be doing it.You can get the same info for free here on BP and at your local REIA group, both of whom deserve your support a lot more than guys like that.My local REIA has classes and seminars on every aspect of RE investing (marketing, legal, roofing and foundation basics, etc) and they are free or $20 at the most and the ones that cost $20 usually feed you sandwiches or breakfast......no big pitch or rah-rah or pressure to give any one 1000's of dollars.

She did ............... 2 years later the house is STILL bank owned , now there is a hole in the roof , the AC unit is gone , and the basement has a foot of water in it ( can see that thru the broken basement window) probably molded out now .Keep looking ......

The outside looks good, but it has a slate roof.