Why aren't people interested in apartment buildings Detroit

[Phillip Dougher]

My partner (he's a finance guy) ran the numbers on some of the city owned apartment complexes up for sale.  From both of our stand points, the numbers make sense.  These buildings are burned out, filled with trash, and require a complete renovation, but the numbers still make sense.  

My question is why aren't these buildings being flipped?  Has anyone looked into these places?  Is it the cost associated with the project?  Regulations? Too much work?  What are we not seeing?