Over time, the front door was broken and the facia on the deck began to hang down, so I decided to call the owner to see if he wanted to sell.

Big covered deck, very nice touches throughout.It was offered $365k 200 days ago.

Generally that was when the old roof was wood shakes or shingles and they had to be replaced and decking installed.Generally though I've measured, bought the stuff and hired some "casual labor" from in front of HD or wherever the local "shape up" spot is in your locale.

Here are the tasks that were listed:Drilling holes in the bottom of the pool for drainageDispose of pool equipment and terminate pipes, electricalJackhammer the pool deck and throw in pool (rent jackhammer)Bring in fill dirt via dump truckRent Bobcat and Vibrating Tamper to fill and pack the dirt.If Bobcat wasnt possible and had to use wheelbarrows, cost goes up.

As a result, I know there is unmet need especially since my 700 square foot loft which will sleep 4 comfortably and is decked out to the 9's with a roof deck will be AT LEAST $50 to $75 less per night than a Hotel w/ no Kitchen, etc.

A buydown is land between lot and lake, limited use (shed, decks, dock, trails) Owner is selling the "-" and "l" separately.

I'd start with a few:Droopy ceiling fan blades - Excessive moisture trapped in ceiling and attic, possible mold spread inside, plumbing problem, roof leak, soggy studs, possible damage to electrical wiring.Cracks on the ceiling - Possible foundation problem, roof leak, or storm and hail damage to roof.Soft spot or dip on the floor on 2nd level - Workmanship on flooring cover, water damage to wood underneath, renovations done from down stairs ceiling created damage.House extension not built on slab or same foundation as the house - Difference in foundation and level.

They have calculators like a rehabber both 'top down and bottoms up" where they may create a bottoms up calculation like: 30 square roof with decking, insulation, paint, GC fees, new electrical, for a kitchen fire * depreciation, if applicable Or a top-down estimate: If kitchen construction costs in the area are $200, then the may estimate, e.g. $200 per foot and you have 400 ft damaged = 400 x $200 = $80,000 * depreciation if applicable Some states, you get paid the policy limits even if they are higher than the replacement cost.

Realtor on deck.

Another update.I backed out of the deal.As soon as FNMA accepted by offer, I had to commit to EMD and sign their REO addendum.They asked for a 90 day deed restriction, which I was OK with.The property is probably worth 165K when it's rent ready, but right now it's not.My accepted offer was 131K, with an estimated 20K to correct the violations - well the violations I know of - illegal fence, illegal staircase, illegal pond, two illegal exterior structures (gazebo style steam room and weight room), and illegal driveway and decking, plus some interior violations on a master bathroom plumbing.Oh, and a 345K city lien from years of daily fine.So when the clock started ticking I began to do my "thorough due diligence".Had my attorney reviewed the contract and looked into the lien issue.Now, the city, as a matter of policy, WILL reduce the lien down by 90% once the new owner makes the corrections and clear all the violations.