Leo had to design custom platforms, purchase and cut the lumber, take it up to the designated bedroom and build all of us new mattress supports.

It’s ugly (it can be painted) trash and dog poops everywhere, and there is a mattress laying in the backyard.

stashed in your mattress that you were dying to sink into this you would still be out $2,600 every month in PITI alone!

Right away I noticed that a couple was living in the living room with blow up mattresses and a  child, another couple with a kid, and a dog were living in the spare bedroom, which explained the dog turds in the yard.

The 2 sides of a bed mattress are called "Side A" and "Side P". 

For 8 months, we went nuts, living on mattresses on the floor while we renovated.

They have a sorting station where you can drop specific items such as electronics, paint, oil, mattresses, and tires.

@Timothy Burnes Don't do it. 10-20k in equity is not worth all those issues.Bed bugs are a significant defect that can take either $5000 and tenting the whole building for heat treatment, which requires vacating the tenants or getting them hotel rooms for a few nights, or a sustained program of prevention with bed risers, leg traps, sealed mattress bags, and the tenants need to keep it up for.. get ready for it.. 6 months, which is how long they can live without a meal.Sewage in the basement could be a big issue if you have a sewer backup problem.The sinking toilet sounds like it needs immediate attention, but at least that's a straightforward repair.The other issues are what I would consider "normal" as in, you could fix them but don't need to in order to make the place liveable.Based on the bed bugs alone I would avoid... if you are comfortable with this level of rehab you should be getting a way better deal. 

We spent almost $18,000 in appliances, flatscreens, bed frames, mattresses , furniture, supplies  etc.

Regardless of how someone is going to invest, if they are not willing to be patient and spend some time learning how each way will benefit them and which one fits their needs the best, then under the mattress may be the safest bet!