The trustee sale inventory is pretty low as well at 901 for Maricopa County as of this morning with these 901 loans attached to properties (some 1st, some 2nd liens) being auctioned over the next 90 days.I would never presume to know if, or when a market correction is going to happen. 

I presume they had a kitchen sink, so the sink is not a relevant issue related to habitability.

Thus, as I am at this point a ‘hobbyist’ and not a professional I presumed I would simply report whatever minimal profit or loss realized on this first joint flip project as pass through income.

But there is a lot of missing info that makes it hard to even begin.As other's noted, it could be any number of things, some more common than others.It might not even be bathroom related, i.e. a roof leak that is showing itself in a bathroom (but presumably this would be present when raining and shortly thereafter).Toilet, could be wax ring or the O ring that connects tank to bowl.  

Start with one (presumably the one that needs the most work) and go through the entire process of 'rehab-through-rented' with it before continuing on to the next.

I know plenty of people who take that risk because they presume the lender will overlook it if the monthly payments are being made.

Looking at new builds (brand new or recent), vetted for major repairs (there will be none presumably, some have a builders' warranty), that I will potentially own for 10-ish years. 

Since I presume you don't have a PPP, it's likely a good option to refi as soon as the deal makes sense number wise, potentially in the high 5's.

It's all in the numbers...Lets do some imaginary math on a $100,000 purchase with a $50k ARV spread...Say closing costs to buy are $3,000, and to sell the house once finished your closing costs are $7,000 with commissions and fees presuming you are paying a realtor on at least 1 side of the sale.  

Presumably, she went to a doctor but is unclear communicating to the PM what "type" of doctor and cannot produce any documentation that shows whatever it is she has AND that the home is the cause.I told the PM to have a professional mold restoration company go out to the home and do what ever testing they need to prove one way or the other.