It was called the Dez Clark, Alex Brown and Non-Descript White Guy show...

My first guess is the terms being used by OP and the Seller are general non-expertise and the terms being used are not proper descriptions of where this file sits.  

Some upcoming Alabama tax auction dates, with description for out of state people.

Pinal county, just south of Phoenix, offers more detailed Use descriptions than other counties.

In MI properties are mostly surveyed into townships, sections, and so forth so descriptions sound like: The NW quarter of the southern half of the eastern part of section 9 less a portion commencing 600 feet from the eastern boundary of .... blah blah.Anyway, when I got my tax bill, the county clerk sent me a note saying that she thought the description sounded incorrect and she drew a picture on a map of what the description showed and then what she thought I had actually purchased.

I put an offer on it a couple of weeks ago, they want best and highest, then BoA went under contract with someone else.A week later the property came back on the market and the description has the added verbage:BUYERS MUST TAKE EXCEPTION TO TITLE & ASSUME ALL FINES, LIENS, VIOLATIONS, ETCTurned out the property has a bunch of utility liens, $45 here, $120 there, nothing too alarming.Then there is an outstanding code enforcement lien from the City of Hollywood.Description = MINIMUM PROPERTY STANDARDS GROUP FOR RESIDENTIALStatus = OpenDaily Amount = $350Accr.

I somehow OKed the surveyor to give a copy to everyone, my agent, LA, closing co...and prompted the closing agent to notice a discrepancy in the original legal description which amounts to a typo, but they cancelled the closing and FNMA had to reforeclose.Another short sale I was the buyer they wanted, even had a verbal was waiting for it to get signed, then I noticed they had fenced in a strip of land about a 12' wide across the back that is supposed to be part of an alley, but the fence had been there for 20 years and no one noticed or complained.

if you can buy it for the value of the land and teardown,,,,then price the foundation solutions and all other repairs (by the sound of your description there will be lots).I suspect lots of headaches here so make it worthwhile.

Making $20K is not descriptive enough, $20K on $50K or $20K on $100K?

Total insurance between flood, windstorm and homeowners was around $2,800 if I recall.Regarding your average daily rate, I can't help you there unless you give more description about the property.