It can also capture damage to the property for which the tenant will be responsible so they don't claim it was in that condition when they moved in.

A less expensive property (eg bad area, house in poor condition) may be less expensive to purchase or even look better on paper, but in reality it is not. 

On another occasion I had them inspect the property after purchase and they informed me that due to the condition of the roof they were raising my deductible on any roof damage to $5K instead of the $2.5K for the rest of the property until I installed a new roof.   

I will never buy a property I wouldnt live in with my family , condition and location .

Have a 1960s 30 unit single story motel where we are coming up on some end of life issues: the cast iron plumbing is disintegrating underneath bathrooms, radiators are starting to leak, electrical is in poor condition, and just today, discovered significant termite damage affecting multiple rooms.

Investors should also be mindful of the currency risk.Would you mind sharing the financing conditions you've found?

What is the condition of the home and trailers? 

Well, most of the time (maybe all of the time) you're buying HUD houses "as-is" and you're not really using the presumed condition of the plumbing as a bargaining chip.

Or not keeping the property in a livable condition.

Should I close, if yes with what conditions ?