If your tenant lives hand to month like many others, I would personally recommend against this because the tenant will be disincentivized from doing repairs or even informing you of major repairs even when absolutely necessary. 

If it fails and you can't repair it - you might also be responsible for clean up.

Those areas are going to be invested in heavily once the regulations on opportunity zones come out, so I would get a head start in those areas for buy and holds.

Sellers—agreed to make NO repairs after inspection, but agreed to pay $1,000 at closing to buyers for repairs to be made (on a $119,000 house that had just been fully renovated). 

My biggest struggle right now is trying to figure out how to properly estimate repair costs, so any suggestions there are appreciated.I have been thinking about taking the leap for years, and have finally set myself up to be in a position to do so.Can't wait to see where this goes. 

@Michael Kiley I agree with @Steve Boianelli plan ahead of the call.

I think a lot of newer investors would benefit from your inspections and repair estimates.

It was a complete rehab except basement floor tile repair." estimates included in report".

In my market it’s either houses that are in too good of condition and can’t afford to buy and increase equity to flip or ones that are beyond repair and not looking into new constructions since area is not expanding at a high enough rate and hold onto until some out of town we decides they want a luxurious vacation home.

Plus, often you're at a HUGE risk buying these homes and have to waive all contingencies, make no request for repairs, etc.