It is always good to set your ceiling when bidding at an auction so that you will make at least 25-35% leaving enough for rehab and profit. 

One that will open walls to see how far damage might be not just the exposed sill plates but the studs and sheathings behind, below or above fixed walls, floors and ceilings. 

Mostly cosmetic, wall paper removal, fixing walls, new flooring, interior paint walls and ceilings, fixture replacement, and a patio.

Floor has a slight slope to it.3. laminate flooring was put in incorrectly 4. stress crack along with minor water damage on ceiling and walls5 new roof6. no appliances 7. the washer and dryer connections are in the kitchen8. has no central air (95%) of the houses in the area have it 9. need landscaping 10. gutters11. wall trim is in pieces12. some paint since im sticking to white ( very popular in the area)13. doors need replaced14. full remodel of the bathroomAlso the furnace and water heater are exposed in the bathroom (looks very weird) and it does have a garage or a basement but crawl space.

I have checked my proposed rents in Rent-o-Meter and even when I push the ceiling, I still come out with a negative monthly cash flow...Are these properties just over priced?

By fixing the strike price, you have given the option holder an ceiling on the price of the property and made it a little easier for them to plan and save.When the holder exercises the option, it is just like purchasing any property - they have their 5-20% down payment; they've cleaned up their credit and have pre-qualified for the mortgage.  

Now you have to find out about the amount of work that's needed to bring the house up to code aka rent ready status - the cost of repairs, is there structural damage, is it a complete gutted from basement to ceiling and if so how much will it cost and how long will it take?

Here is our most extensive rehab to date, in West Seattle.In Seattle, we have all of these wonderful old homes with unfinished square footage in the basement, but they don't always have the best ceiling height.

We had to go through the ceiling of an adjoining room about 7' away.

When a laborer was in the attic removing the obsolete chimney, cracks showed up everywhere... we eventually tore out all the living room ceilings and (per Consultation) put in new 16' 2x10s to support the load.