Gained a lot of experience, lost a fair amount of money.

Im so lost.

I’m out $2000 in lost rent in property#1 due to major sewer lateral problems that showed up immediately after the 1sttenant moved in and made the house uninhabitable for a month and a half (not to mention a ticked off tenant).AHA left a 26+ year old furnace in property#1 (the SOW said it would be replaced as part of the renovations).

I’m looking to purchase my first MF property and have been advised of so many different things that I’m completely lost at this point.

I completely lost site that the easiest tenant to put into a house is me.  

The hardest part to determine is repairs / maintenance, because it's easy for things to slip through the cracks, paid with cash, lost receipts, fixed directly by the owner, etc.If you message me the address I can probably find out some more information for you and help you look at the numbers.

BTW, the Texas Department of Corrections lost a suit on that issue. 

So you lost your chance to negotiate price / repairs.

Was wondering how do i get started i lost as ever.

If you get a deal that has 50K in profits, ALL your buyers that would be happy with 25K in profit will jump on this, so nothing lost removing those greedy unrealistic ones.Secondly, if you sign a contract with 50K+ in profit, get a hard money loan and do the deal yourself.So now moving on...Once you have a solid ARV, and a COR, and the average profit your buyers are looking for.. re-evaluate the offer made on the contract and see if the work needed and effort involved to fix up the house is worth the profit.If the house has structural damage you can expect the buyer taking up more risk and they want a higher profit.