Would I, the "buyer", be accountable for ALL expenses (i.e. roof, water heater, major repairs etc)  or can I pass that off to my renter?

On the surface it looked to be in very good condition, roof, tile and wood flooring.  

Consider also that the house was just flipped and it looks pretty much brand new (also the roof was redone), so there won't be much work, if not at all, to do it in the next few years.The row house has 3 floors (First, Second and a full basement) + front lawn and a small backyard.Price would be around 200K.Let me know what you think and what you would do and if you need any other information.Any recommendations/advice or thoughts are much appreciated. 

Stalking around the property I could see that the roof needed some work, some carpet inside was stained (some new) and the ceiling in the living room needed repairs. 

In other words, if I opted to make large scale improvements to my other properties (new roof, kitchen, bathrooms, ect) would these expenses help offset the profits of the flip? 

That means that I got back $3,000 the first year…a 100% ROI.The next year, I had a roof leak that damaged the ceiling in the dining room.

We had to kick back an additional $900 for some repairs that we were not able to address because of a snow covered roof all winter long.After all other fees and holding costs we made a profit of $45,000.The total amount of cash that was required for this deal was $20K.

Things like appliances, roof and carpeting replacements can be costly.

.* Full Home Inspection - Whether you go FHA or Home Possible to House Hack* Mechanics and Roof should be solid* Cosmetic upgrades don't turn into full gut jobs.Let me know if you have any questions.Regards,Joe Scorese

There were times the expenses like new roofs, furnaces, and damages, may have gone over the $100 a month for a property that I had budgeted, but I had enough money in Escrow to cover those properties, and so I never was left with a negative amount in my bank account.