honestly, if this is your first deal I would pass..... sure, you could get lucky and line up all sorts of people to advance you things, but this is 2020 - do you want to test the gods this year?  

Not sure why I would need to replace the anything if there’s no leak...shouldn’t I have to do the test first?

The issue with the neighborhood is that although you may be able to rent at the top the tenants that want to live there are willing to struggle and pay it.. their income will pass the test..

This seems to be the case more often in B to D class areas than A areas (generally I see that Section 8 rents for A areas are below market rents).From my experience, the "rent reasonableness" test is what matters for Section 8 rents, up to the FMRs, meaning the HA is going to go off of what's reasonable for the area based on comps, up to the FMRs. 

Started my classes in November of 2019 and was scheduled to take my test in March 2020 when the pandemic hit.

In general, to qualify for the Section 121 exclusion, you must meet both the ownership test and the use test.

If a property passes the bank's sniff test at 75/25 you've had a second set of eyes looking at it to help overcome some of your own bias. 

Thus the plan to use a known builder with tested models to mitigate risk and potentially allow us to replicate the process in the future. 

Lead Safe testing required for every single rental unit in the city built before 1978. $300 violations to a property owner if a neighbor dumps trash on your adjacent sidewalk. 

Low CAP of$16,000 after then it's $250 per transaction.Send me a DM or call me if you will like to go in-dept on what eXp has to offer you.Go ace that test man.