While that much rain can defeat what might ordinarily work, it would be good to review that your downspouts are directing water at least 5-6 feet from your foundation, that the ground is sloping away from your house, and that you have swales or french drains intercepting any water moving down slopes or hills towards the house.On the other hand, if you're dealing with a high water table, it's a different ballgame.My experience with Drylok is that it works well with minor amounts of water, but that any significant hydrostatic pressure will defeat it.

Ok so here's the scoop:I am a beginning investor looking for my first buy and hold investment so as to get my feet wet.

I typically use $30 per square foot for rehab properties.

can be issue for foundation and plumbing as well which i consider bigger.on inspectors and structural issues, they generally will say "i feel there may be issues here but i recommend you have an expert look at it" so basically no answer in my book.roofing - you are looking at around $175 (really cheap ) to $280 per sq around okc (a square is 100 sq ft of roofing) this is assuming decking is in ok shape. plenty of roofers looking for work so you might be able to get them down some.on drywall yes you can do that. you will want to check it out though and see if it could progress further.  

It blew me away that 15 feet left or right means the difference in 20-30% value, and thousands of dollars.  

This would add an extra 15-20k to my loan, so the numbers below are for 275kafter the 3rd unit is added my units and rents would look like this: two 3/2 units that are both 1308 square feet (each would rent for $1100-1200)one 3/2 unit that is 1550 square feet (it should rent for $1000-1100)EXPENSESMortgage: $1320 (without tax or insurance) 50% rule $1600-1750 Note: This duplex is relatively new construction (2003) so cap ex might be on the lower end (I still accounted for more) and the vacancy rates in the area are VERY low, lower than the 10% I accounted for.

I'm still leaning towards out of state so that I can "get my feet wet" with less out of pocket.

the landlord would not fix the bathtub as you can see its not usable. the apartment over me had a flood and leaked water into the bathroom ruining the paint. also look at the mold builds up the new owner told me to use bleach and fix it. the carpet was old and dirty when i moved in was dirty if i walk on it bare footed my feet look like i have bee walking on black coals. they turned off the gas and water for 2 days we dang near froze to death. new owners now and they have been here for 2 months and they wont fix it either but they refurbished 3 other unitshttp://img259.imageshack.us/img259/920/1032414.th.jpghttp://img811.imageshack.us/img811/5759/1032415.th.jpghttp://img502.imageshack.us/img502/2409/1032417.th.jpg

After your tenants drag their furniture across the room several times with the rubber feet worn off exposing the steel fastener, your laminate is going to look two tigers had a wrestling match in that room.Hard wood is more expensive, but can handle damage better and can be repaired.

Is it off by a few feet in measurements or is it an entirely different property?