honestly, this "rehab" if you can call it that stinks to high heavens. i think your mind is getting clouded with the assumed cash flow amount. i foresee quite a few capex/opex items in your near future. the roof alone is completely unacceptable. they probably had some shingle slappers come out and knock it out in one afternoon. wouldn't be surprised if there are more issues hiding underneath. everything is fixable, but i'd be weary of everything else you cannot see. has your inspector snaked the drains and made sure there are no leaks in water lines?

Might be something worth exploring for STR hosts out there not currently using them...

BiggerPockets will be hosting our second annual real estate conference in the Big Easy (that would be New Orleans for those of you opening Google).

@Sean HarrisLook under the menu at the top of the screen Network>Events You can search your area there and see if any members are hosting a meetup.

it is free to list for host and free for guests to use.

@Kevin Walkup I actually manage STRs as a co-host.

We host monthly meetups called “Pints & Properties” in Lowell and Nashua, they’re posted here on BP under the events tab.

@Shmuel Katz You should check out the webinar @John Warren hosted in March that was 100% about BRRRR investing in Chicago. 

This is called a "cloud on the title" A tax deed conveys certain rights to a property.

Sometimes luck plays a big role, and sometimes it seems like you have a dark cloud hanging over you.