Tenant has been in 2 years with no water issues, then I get a call that the carpet in the bedroom is soaking wet in the corner (exterior wall and master bath wall).

.- Your capex numbers are more realistic and I am totally going to use them as opposed to my more aggressive ones. - $400/Mo for utilities is simply for water/sewage and everything else is on the tenets.

At most, the lender may want you to verify you are moving hit work, as opposed to you having used the loan knowing you were just going to flip. 

I also was wondering if there are benefits to an LLC as opposed to purchasing under my own name?

If the property did have a tenant, I would not be opposed, but I would make it my business to review the contract, view the background check, obtain estoppel information, and make sure I would be collecting appropriate deposit and rent.

If any of your properties ever need a good exterior washing let me know, I’m local to the Richmond area and own a power washing company!

Some examples would be outdated interior finishes that just need a repainting, old carpet that can be replaced with vinyl flooring, mold- depending on the area, while it can be an indicator of a major roofing problem, can usually be solved fairly easily-, urine smell, exterior painting, overgrown lawns, etc...4.

The other option, though perhaps not as visually appealing, would be to run PVC condensate line through the exterior wall and down to the ground to drip onto soil/sidewalk/whatever happens to be there.

You might also want to check if it is a historic building as there could be restrictions on exterior renos.

I personally wouldn't push it, since the broken exterior pane should comprise the water tight-ness of the window and the energy inefficiency affect will be the tenants to enjoy . . . safe and sound from that pesky virus!