@Timothy Burnes Don't do it. 10-20k in equity is not worth all those issues.Bed bugs are a significant defect that can take either $5000 and tenting the whole building for heat treatment, which requires vacating the tenants or getting them hotel rooms for a few nights, or a sustained program of prevention with bed risers, leg traps, sealed mattress bags, and the tenants need to keep it up for.. get ready for it.. 6 months, which is how long they can live without a meal.Sewage in the basement could be a big issue if you have a sewer backup problem.The sinking toilet sounds like it needs immediate attention, but at least that's a straightforward repair.The other issues are what I would consider "normal" as in, you could fix them but don't need to in order to make the place liveable.Based on the bed bugs alone I would avoid... if you are comfortable with this level of rehab you should be getting a way better deal. 

And then there's the plumbing....you can patch in sections that were stolen with PEX.I would budget $15k for electrical and $5-10k for plumbing....

Second contractor ended up being a known felon (according to my lawyer) Long story, I ended up falling into every trap in Real Estate Investing from bad contractors, getting robbed, getting sued and failing hard core and landing in a Chapter 7.

Second contractor ended up being a known felon (according to my lawyer) I ended up falling into every trap in Real Estate Investing from bad contractors, getting robbed, getting sued and failing hard core and landing in a Chapter 7.

I still want to attract tenants with it looking good but if I get another flood repairing won't be that bad and water won't stay trapped. 

If you could prove the tenant was at fault for the damage (ie, was negligent by not cleaning out the lint trap, etc) would you bill them for the repair/replacement cost in that case?   

Reminds me of a quote by Jim Rohn, went along the lines of: "Nobody ever looked back on their life and said - I wish I would have spent more time at work"I see myself falling into the trap of foolish spending, but after considering this, just like with everything else, I just need to set aside a predetermined budget for such rewards. 

We had locked our loan too early and got stuck in the trap of having to choose whether to extend for 30 days or drop the rate lock and wait the 30-day waiting period.

Curiously, there was a recent article about a similar situation (don't forget to post notices):Woman trapped in apartment for four hours

On another note, you do realize any house left unattended for lengthy periods will expose you to a multitude of problems, for example:Mold, rodents, insect infestation is almost certainCarpetbaggers, homeless, and or drug addicts may become a problem that could ultimately be your responsibilityWhat is the city ordinance?