You can see the "trap door" in one of the pics I posted. 

And vice versa for me - on my properties, if there is something I can not do and need to get a contractor - electric, plumbing, HVAC I do what I can to save time and money, when hiring them.I even have a bug man (exterminator), while he sprays for insects, I lay out the bait for rodents and other small animals, by saving this 20 to 30 minutes, I save a $100.

Unless it is a death trap it may be a good option for you to sleep in until all 3 bedrooms are rehabbed.

What you can expect from Sherman Bridge Lenders: promises will be made to you, they will not be fulfilled; you will be lied to, you will be ignored, you will be stuck in a trap between the hard money purchase loan and the supposed refinance permanent loan you are ultimately expecting to get.

Clogged trap?  

Yes ask them about assuming the deal, then have a RE attorney look over the deal to make sure that there are no booby traps. 

it was a nightmare because the value of the units immediatley dropped and we were trapped while owning 2 apartments there.  

------------------------------------------------------------One of my client bought in section 8 warzone.30K duplex, rents 800 per unit, that is 1600 a month. that is almost 50% projected cap.

That would only be one example, in one state (unless others joined in on this potentially trap-laden experiment), but it would be interesting to hear.

I have seen some good deals in sections of Miami, but the properties need serious rehab.