@Cody M.I would add a Phase I Environmental Site Assessment as a contingency to any offers on properties more susceptible to environmental issues (dry cleaners, gas stations, auto repair garages, etc.)

Plus the gray area between who's responsible for repairs. 

They are often sold at a discount, but they can come with significant repair needs since they are usually sold as-is.### Due DiligenceBefore buying an REO property, conduct thorough due diligence.

Maybe ill have better luck trying to ask specifics with the group.On my sheet total project cost is calculated by adding Closing costs + Repairs + Holding Costs + Loan amount + Hard money fees.

They had movers pack-up and store their belongings while all the necessary repairs were made.

However, tenants have not been great, basically late on rent and/or leaving repairs that eat all profits.

Eitherway, in time after repairs are made and I recive a fair insurance payout I will reinvest but with a lot more 'micro managing' apps approach. 

When someone tells me that "you won't have repairs or cap ex for a while since the seller just renovated it"... well that property is -$300 to $-500 a month from repairs called in by the tenant most months.

You just need to bring it in continuously every other day for repairs, to keep fixing the stuff that constantly breaks, to make it run, so because the car is always being fixed (because it always breaks), my conclusion is the car works, and so the car brand is A-Okay.That doesn't make any sense, does it? 

If so, have them ask their provider if it will cover temporary housing while repairs are made.2.