Deal breakers on a home inspection report

Rental Property Investor · Mililani, HI · Member since 2018 · 51 posts · 26 votes

Hello! I am from Hawaii (Oahu) and brand new to real estate investing. I’m tracking to close on my first out of state turn-key rental property in June (single family home). I just received the home inspection report for this property and there are some concerning things identified by the inspector. I don’t actually have a good feel for what is considered minor, major, bad, or very bad. Can anyone offer some advice about what types of things on a home inspection report I should watch for that may be considered “deal breakers” or cause to change my mind about purchasing a property?

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Matthew Paul

Severna Park, MD · Member since 2013 · 7k+ posts · 7k+ votes

What is major or minor on a inspection report is relative to the price and location of the property and your risk tolerance

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Joni Chin
Investor · Honolulu, HI · Member since 2017 · 45 posts · 20 votes
8y
@cassie Aloha Cassie, I’m another Hawaii resident investing OOS for the last few years. Careful with the plumbing, electrical, etc they can add up to big bucks—noticed that sellers are covering the cost which is good. Just wondering about age of home and whether you got sewer inspection, as that’s not usually covered under the standard home inspection. And sometimes that will result in an expensive surprise like I did a few years ago. (Old sewer pipes and invading tree roots don’t go well together!)
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Cassie ChunPro Member
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Rental Property Investor · Mililani, HI · Member since 2018 · 51 posts · 26 votes
8y
Originally posted by @Joni Chin:

@cassie
Aloha Cassie, I’m another Hawaii resident investing OOS for the last few years. Careful with the plumbing, electrical, etc they can add up to big bucks—noticed that sellers are covering the cost which is good. Just wondering about age of home and whether you got sewer inspection, as that’s not usually covered under the standard home inspection. And sometimes that will result in an expensive surprise like I did a few years ago. (Old sewer pipes and invading tree roots don’t go well together!)
Hi Joni! Always nice to hear from a local REI investing OOS! The plumbing and electrical were redone this year as part of the rehab and are covered for 12 months by the turn-key provider. I just learned that the roof is also covered for 10 years. The house was built in 1943 (yikes!) I did not get a sewer inspection but that's a great point. Thank you for the advice!
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Joel BongcoBusiness Member
Investor · Honolulu HI & Los Angeles, CA · Member since 2018 · 370 posts · 178 votes
8y
Aloha @Cassie Chun, I would take a look for things like Asbestos, Lead Based Paint, Mold Issues, Structural Problems. Did the contractor pull permits for the pluming and electrical work? Were they licensed contractors? My wife and I live in Mililani by the town center, please let me know if you would like us to take a look at the report with you. Blessings, Joel and Mary Ann.
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Inspired Life Investments LLC.
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