@Andrew B.The water shutoff, HVAC system, air filters have to be replaced every three months.The water heater is located in the garage which is owned by another unit.In another property, I recently had an HVAC system blower fail in the middle of the night spewing black smoke into a bedroom.

It could be a smoking deal on a nicer property in a great neighborhood for all I know, just highly unlikely at that price point.

Pets under 35 lbs welcome, 6 month lease available upon request, and no smoking on premises.

Sounds like "we need 20% down but want to trick you into thinking its 10% by spreading money across fees and down payment".Holy smokes.

The lease specifically says there is no smoking anywhere in the building for example, not even on individual balconies.

I've done it but only when i'm trying to squeeze more money out of a third party while at the same time, being comfortable with it coming back to me as REO (That usually implies there is a senior lien/junior lien relationship of some sort).Some of it is art, some science, some smoke and mirror but its all in the effort to "true up" what you realistically expect to take as a loss when its all said and done, if you end up taking a loss.

Ensure all smoke detectors are accounted for and have a working battery.

If you find a smoking deal, borrow some from friend and family, take it down with cash and then fix and refinance and then pay everyone back.

Unmitigated water damage becomes mold damage and and there is the potential of extensive smoke damage in the same airspace.

What do you think would happen if the tenant burned down the property and your insurance came to find out you were not registered as a rental and didn't have the city required smoke detectors.