Looking for a ticket?

It's just anecdotal to our firm, but even in this market well over 90% of our clients are completing their exchanges with properties that satisfy them.So I guess that equates to me selling you a lottery ticket for $850 that has a 90% chance of paying you $27K.   

In many cases, I felt that the tactic was "buy the shiny box now, and then you can open it up and see what's inside" - almost like the old Time Share traps - "Get free show tickets if you attend this 90 minute seminar". 

You will need to find a good agent to walk through the property, and send you videos (One that you can trust)Get a solid inspection, identify contractors that will give you bids for any big-ticket items prior to you hitting contingency dates. 

Most contractors warranty are as good as Superbowl tickets the day after the Superbowl....unless they're a long term established business.   

But it needs a fair amount of work (not necessarily now) but likely over time.) the biggest ticket items are likely to be electrical and eventually the boilers.

@Tom Markoe Everything you listed is a big ticket item.

Down the road you’ll get an inspection but to make sure you don’t waste your time and money - verify the age and condition of the big ticket items - roof, HVAC, plumbing, wiring - those capex items.

Mind any potential code violations, deferred maintenance, and your big ticket capex items(re-paving parking lot, loose handrails, amenity repair, roofing, scope plumbing lines, etc)It’s unclear to me if you’re buying this with your money or other peoples money.

The more you do this, the better you will get at knowing rehab big-ticket items vs cosmetic fixes.Best to you!