Hi All,I am a first time home buyer and going to be putting an offer in on a flip and wanted to include a home inspection. the issue is the basement is partially finished so access to walls is limited.

I would get property tax returns from seller to accurately determine an expense trendline, and also make sure your ROI is including an adequate set-aside for reserves, especially for a property of that age.

I already started shopping in case a change became necessary and also noticed that Allstate was higher (though it included the smaller claim on the house currently with SF).

Annual additional expenses run about $1000 per year, to include insurance, maintenance, etc.

You must include a clause in the lease allowing cancellation if the owner redeems.

Shouldn't the contractor include a contingency amount within his/her fixed price quote?

Which means it needs a lot of repairs, maybe as much as $30k or more, including new roof at maybe 10k.

Considering the small numbers of the units and that ALL utilities are on 1 meter You should consider adding the cots t the rent and just leasing it at $xyz include utilities. 

What real return (including all recurring costs and not including unrealized gain like principal pay down, etc.) can you expect with 25% down, 30 year fixed?

@Art MaydanFirstly, if this is a student rental, I would recommend that you have the parents be guarantors and sign a separate guarantee which references the lease {i posted a sample in the BP file space a few years ago}.If the parents are signatories to the lease, then they have all the rights of a tenant including the right of access.