Hi @Chris EhrhartThere are two prices in a negotiation, one is the offer counting multiple factors, mainly Cap rate and visible repairs when is a investment property.The other one is when you do an inspection.You listed 5 items here so I'll comment on each one:- Electric panels, this is likely to be found during inspection.

Finally from a purely from a cash outlay prospective short term, you could rent a house with roommates and your payment would still probably be Lower than house hacking because rates are so high, over the long period 5-10 years obviously it would cheaper ti buy, hope that makes sense 

And, it ain't cheap.

I would find a loan officer that does both conventional and FHA renovation loans to compare which has better rates and terms for your situation.

All too typical park owner who took all the profit out of the park without reinvesting in the business then wants to sell you the potential he was too cheap to invest in. 

The lower rate or longer term can also make the payment more affordable. 

The heating system, while straightforward, wasn't cheap for my 3 unit and will have a longer payback period. 

Plus, there are upfront costs to consider, like furnishing your condo and any expenses tied to managing it as a rental.As for refinancing, it might not be the right time with interest rates where they are.

Many claim they do not charge a markup, but then aren't transparent with invoices, etc. 1) If a PMC charges $x hourly, their markup is built into that hourly rate as they are NOT paying their workers that hourly rate.2) Many PMC's send you ONLY their invoice, or from their wholly owned maintenance company, not the underlying invoices from Home Depot and contractors.

Too bad you can't buy something owner-occupied, put 5% down with the best interest rate, live in it for 12 months (and fix it up), rent it out and repeat the cycle.Here's some other info you might find useful:----------------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?