Joists which have been "notched" or completely cut to accommodate some "update" can create severe structural issues causing leaning floors and tight doors.Others have already mentioned asbestos/lead based paint issues, however you rarely see remediation costs mentioned...they can be VERY high, and the fines for violating Fed/Local EPA laws can start at $11,000 for a first violation.

But in my Airbnb seminars here in Denver I've also heard from hosts who weren't covered for some basic things, like bed bug remediation. 

Being new to this, how do you gauge what type of remediation and rehab is needed in a situation like this?  

To re-mediate issue, I hired a handyman and re caulked the shower.

A buried oil tank can cost 700 dollars to just remove, and over $100,000,- to remedy a leak over 30 years."

Plus these $40k houses have bigger issues sometimes (mold remediation, foundation, structural, total rehab) so they seem to have less entry barrier at first.

Because you have your work cut out on smoke remediation anyway (check some other forums on that) whether it is next week, next year or in five years.

Then find out how you are going to remedy that pain.

I read an article that a little over 1000 mortgages were originated in 2018- an abysmally small number.cons:I agree with the other poster who said it’s hard to find contractors and even landscapers who will do work in the city.Another challenge is that the city passed an ordinance requiring landlords to complete lead remediation.

Is it likely that repairing this area, new flooring, new windows, new HVAC and paint will remedy the problem.