What if vacant when foreclosed on, but occupied when it goes to sale....or some variation thereof.Most of the time in places where I buy here in Texas there is no secret to the occupant that the house is facing tax foreclosure.   

minor definition variations between short-term and/or vacation rentals, but outcome is basically the same. 

The 203K variation only lets you do up to $35,000 of renovations, there's not really a rigorous process of coming up with a budget to do the deal, and it has more limitations (e.g. no pool or built-in BBQs out back).

Valuating real estate has fewer variations than business because analysis is limited to similar projects within the region (as opposed to the same businesses running across the country and overseas) and fewer variable inputs (wages, supply chains, distribution chains, marketing campaigns, etc.), but still presents challenges because the analyst needs to know what data to include and how much weight is given, and what presumptions to make.  

In addition, there is huge variation on the amount of time, money, and energy each method takes. 

Not sure of the overall numbers, but I have been working out some variations for the last couple of days. 

The variation disguises dirt and goes with everything, an oatmeal look.

There are many variations.

It's more work, it's more contractors to deal with, more variation in ARV, etc.

But, in my area I find too much market variation within zip codes.