Signed contract on place.. B&P was performed last week. Place is 40 years old or so, Came back with a few things that wasn't immediately obvious. Roofing looks like need moderate repairs to full replace in next 12-24 months I would say (not leaking according to inspector, but surprised its not, ha). A fence needs replacing, and some plumbing probably due for replacement very soon. So will add up over time. General building structure itself is good, and no structural issues, no leaks/moisture inside. So anyhow, I came back to the vendor with $5k reduction request to address issues, which I didn't think was too unreasonable. I'm estimating probably will need $10k in next 3-24 months to address the major things, and then beyond that there will be a bit more minor stuff. I wasn't too much of an arse, but did mention I do reserve right to cancel under unsatisfactory B&P if they do not accept the reduction. Now I'm at the point where they will either accept the reduction, or they say nope, and I have to decide if I want to bare the full cost of these costs myself, or pull out. Tenant is in place, but I figure some of the things are going to need addressing if they move out at renewal in 6 odd months or else may be difficult to secure another. Price paid is around median (which I think is a bit understated for the suburb right now), did offer a fair bit more than asking, in competitive market. So no "bargain", but probably fair value. Gross yield would be about 4.5% which is pretty good ($60 or so out of pocket), location, distance to cbd is pretty good too. May be difficult to find something similar at the moment. I'm thinking that in 5 years if Brisbane moves, these costs will turn out to be insignificant, but if not it will be a pain in the butt. I guess my general question is, are you happy proceeding on a purchase, if you know it needs fairly immediate and not insignficant repairs? The plus side is that most of it will be depreciable, so will get some of it back. I think I'm probably answering my own question but anyway interested in thoughts ..