Most investors have a habit of wasting the time of realtors.

To make an offer the rehab estimate is vital IMO to negotiating the deal in your favor. 

If it's condemned it has likely been determined that it is not habitable, not worth fixing, and must be torn down.

Also beware that some realtors are in the habit of just looking at an automated CMA (comparative market analysis) that spits out a number - these too can be way off, especially now that the market is heating up in many areas.

Hi @Mel Rosario,Yes, I would have to say that cash really is king in the real estate world, especially when the seller is entertaining offers from investors - who have a notoriously bad habit of backing out of deals (part of the process).

You only want to make the property habitable and rent it, so you choose to use 5%/5% for the OpEx/CapEx, for a total of 10%.Just with those 3 areas, you already have 20% of your gross rent gone.  

The other biggest benefit is, water habits don't typically change, so if you see that water usage raises by 3500 gallons a month, good clue that extra people have moved in...

The purchase and sale agreements the assignment of contracts, you know the vital legal instruments needed in the transaction of real estate.

However, the most vital component of the purchase is vetting the PM who will be the success or failure of the property.  

(I try to make a habit of always checking to see if I can get a discount.)Anyways after looking around and examining my situation a little more closely I decided that right now would not be the best time to buy for me.