This can act as a safeguard against any repairs buyers may not be equipped to deal with—providing an opportunity to back out of the deal if the property becomes more costly than expected.Many think something being sold “as is” will be a disaster in the making, something the owner just wants to be rid of before it causes more headaches.

Again, newly rehabbed unit when they moved in, so all issues were caused by these tenants.

Good to point out that previous owner did alot of work that looked good at first (ie kitchen) only to find things not up to par on ripping them out, also causing more expenses.Two major points I see, expect the unknown and unexpected and be flexible and willing to stick things out and make things right and you will go far in this business. 

"Don't worry about a thing,'Cause every little thing gonna be alright.Singing' "Don't worry about a thing,'Cause every little thing gonna be alright!"

My passion for data has caused me to search the net for information about real estate investing, and I find Bigger Pockets to be an excellent source of that information. 

Quick Facts:Year built - 2007 - bank owned in 2009 - vacant for last 5 yearstotal sq ft - 10,000Build cost - $800kpurchase price - $230kReno cost - $80k (sump pump caused flooding and interior finishes)1st floor is finished small offices (300-500 sq ft)2nd floor is white boxed3rd floor is former hair salon (plumbing gutted) and white boxedThe building is in a sleepy town but is surrounded by areas that are booming just a few miles away.  

It looks like it was caused by a grading issue that cannot be easily fixed.

Welcome, and I hope everyone is taking the time to enjoy this time of year and think about why we do what we do and not allow it to be another cause of stress in our busy lives. 

A single flood would easily cause more damage than that.

There are plenty of pests if not dealt with properly can cause more damage than you will ever want to deal with and make the cost of hiring someone seem like peanuts.