The carpet should be considered regular ware and tear in this instance due to it's age.

Please be aware that in rare instances, issues arise that may require the seller to cancel the transaction due to this early availability Until the seller's reserve price is met, Auction.com may counter bid on behalf of the seller.

If you buy a property that cross qualifies for both you greatly reduce your risk because you have a nice layer of equity on  your position plus you can rent and cash flow awesomely.There are pro's and con's to each strategy and in some areas where BRRR's wont work too well because the rent to value (RV) ratio  is too low meaning it wont meet the 1% or 2% rule etc as a general gauge of being able to cover your debt service and operational expenses of keeping it as a BRRR/buy & hold then you're left with less options and most likely only flipping, wholesaling if you get a good enough deal, but safe to say less options.For instance, in the core of Seattle the RV's are too low for it to make sense as a buy and hold unless if you got a really good deal. 

In general, look for an investor-friendly structure as opposed to syndicator-friendly, and look for alignment of interests between syndicator and investors.For instance, I always look to see syndicator has their own capital in the deal.  

My brokerage, for instance, doesn't allow us to manage properties (other than our own of course) because there is a whole additional level of book keeping, escrow accounts, legal compliance issues, etc.

For instance,  if someone says "oh I would like to stay indefinitely" and then you give them a small discount, then in 4 months they decide they hate the place and leave. should be no problem to ask them how long they stay, just know that you're asking about long timelines and most people are just living week to week.

For instance, 20% below market value, 20% down, cash flow amount, etc?

For instance, if I have $100K in debt at an interest rate of 22%, if I get my hands on $100K, I have to give serious consideration to paying off that $100K.  

For instance, in IL, you most likely do need to get your license. 

I asked for examples of instances where this would be the go to method.