There were many challenges that came about after the inspection; from outlets that were not up to code, possible water leaks above the shower head in the ceiling, water pipes from bathroom vanity was the same as kitchen sink with no shutoffs, etc.

It’s creating incredible opportunities for investors to step in, often at steep discounts.2️⃣ Off-Market Deals Are KingMost of the industrial deals I find never hit the open market.

One of our borrowers who successfully flips on the South Side (Dobson, Park Forest, etc.) is capitalizing on the abundance of discounted rehab properties (on market and off market via wholesalers and the such), which is a key strategy given rising rates. 

I  have a detailed reply above that explains it and provides the code citation to read as well

Send me a message and I'll set you up with a discount to give us a try. 

Purchase properties at a discount that need renovation work to then sell at a higher price profiting at least 15%+ cash on cash returns of all in costs each deal.What is the outcome?

It almost feels like a cheat code for REI. 

if there's no major rehab, it usually means you can't buy it at a deep enough discount for a BRRRR to work. 

Not enough income for lenders compared to what else is out there for themThe biggest thing is the lot but other factors like the actual manufactured unit being quality and up to code helps a lot. 

That was a substantial discount compared to my friends who were paying 2k+.