New roof, new appliances, new plumbing, and fresh paint already done.The sellers listed it at $149,900, reduced a few weeks later to $147,00, then finally to $142,500.

1) Screens2) Blinds3) Furnaces4) Plumbing in general

I will come back here and periodically give you all an update on how I'm doing each week.Here is a brief summary of what I gathered from the walk-through (applies to both units unless specified):Get paint inspected for lead on the exterior, Repurpose hardwood floors, Replace all windows then board them up, Replace back door (unit 1), Full rehab in bathroom, Fix electrical panel in kitchen, Gut all walls and floor in kitchen down to the studs (unit 2), Repair hole in bedroom ceiling (unit 2), Add appliances and countertops, Replace hot water heaters, Rewire outlets, Add air conditioning unit, Fix plumbing in kitchen and bathroom, Paint entire house inside/out, Work on Landscape in the back, clean roof and gutters, add down spouts for gutters, add gas meters, and gut and redo the small balcony off the kitchen.I would appreciate it very much if you seasoned investors will give me your input, suggestions/advice, and comments.

The plumbing, electrical, HVAC, and roof will be the major items you need to consider.Especially in these areas, you will need a GREAT property manager.

Plumbing and electric has recently been updated.

Removed ALL plumbing, electrical, furnace, hot water heater, smashed what they could etc.

The sfr needed a total gut, new iso, plumb,electric and termite repair.

You can always use that time to do more detailed inspections and if you find something you don't like, you can back out.Not a good practice to back out of deals after they've been accepted with no contingencies, but if you use this option very sparingly, it gives you a big advantage.That said, you still need to be able to do basic inspections and ballpark repairs costs.A few things that help me:- Most of my rehabs tend to be at-least full cosmetic, so I'm replacing all flooring, all light fixtures, all plumbing fixtures, all appliances, cabinets, etc.

The only thing they do not do is hang drywall (except for my mine sub who is a jack of all trades - he is a pinter, tile installer, minor plumbing work, stucco guy, brick and masonry installer, finisher, framer, and the list goes on.

ALL YOU NEED TO DO IS INSTALL AN INDOOR DRYER VENT, WHICH IS LEGAL IN MANY STATES BUT CHECK WITH YOUR LOCAL PLUMBING CODE