What to look out for when buying gutted SFR?

[Christopher Berggren]

I will soon be inspecting a gutted SFR in Pittsburgh that's an off-market property owned by local investors with many other properties. They said the reason they stopped working on the property for the time being is that their other projects are clustered elsewhere in the city and taking up their resources at the moment. They weren't looking to sell, as far as I know, but responded to my letter. I'm a former painting contractor and don't mind fix-up projects but of course would choose a property with LESS work rather than a full make-over. But the house and neighborhood are my target area. The deal looks good according to the BP calculators. What should I beware of ?