It blows my mind when I get to see somebody selling houses for a few thousand dollars (albeit they were complete wrecks).

My only word of advice in dealing with some from my claims perspective is I'd take extra time to vet them and make sure they are a reputable operator  (you could probably get a list of banks or car dealers they work for and then contact them to see what their reputation is/if it checks out...some of the banks or car dealers I may have contacts to provide you) ....one other thing to think about is the potential environmental impact as well...ie if they do start hauling wrecked cars, who's responsible for all the fluids leaking on the ground, could they potentially contaminate your property etc.  

@Aref Shehadeh if you are willing to do the work yourself it will cost you less than $150 worth of materials to demo and put up drywall:5lbs of drywall screws = $228ft x 4ft drywall = $12 per sheettape = $10mud = $10Some simple tools: Grinder with cut off wheel, knife, various putty knives, hammer, wrecking bar, etc Don't demo the entire wall... just cut the wall where the tile ends and patch in the new sheet rock where the tile was.

More often than not, people come back around when they can't find anyone to buy their train wreck from them.To help coax them, let them know what kind of values comparable homes in the area are selling at and how much new construction, foundation repair, or demolition costs are.  

It is a train wreck really.If a loan is made on a 15 year term it doesn't have a balloon in 2 years forcing a refinance or any other action to satisfy debt.  

Obviously this includes property taxes insurance etc.. but yeah a train wreck.  

They are probably just buying time looking for the next rental so they can move out in the middle of the night leaving your place a total wreck. 

I may leave the countertops as is, but start saving up for new ones when the first tenant moves out - tenants will likely wreck them (is that laminate or butcher block).  

Higher rates, but usually in the 8's or so, not sure if that'd wreck your cash flow. 

I've shied away from 5-6 plexes around here based on looking at a lot of them which are maintenance wrecks, and not having the 30-40K to dump into them after closing to really make them shine.