You should also be asking how to get rid of them in the event you decide you are interested in upgrading the property.Study your state landlord tenant regulations and you will find most if not all the answers.

Bought and rented foreclosed properties in the past, but now focused on buying, upgrading/renovating, then selling distressed properties in Central NJ.  

Here is a part of the letter, I sent to the seller:The home inspection was completed on September 29th (please see attached) and the following issues were pointed out: 1.The wooden floor frame in the middle unit is deteriorating due to either prior water leak in the bathroom or due to moisture infiltration through the walls and foundation.2.There is evidence of significant settlement under the middle unit bathroom and north closet.3.The settlement of the floor and walls has also resulted in settlement of the roof frame above this area, ceiling shows cracks.4.There is an obvious depression on the roof – water is ponding on the roof above the middle unit, which adds excessive weight on the roof and potential for leaks.5.Asbestos containing material has been found.6.The current bedroom heat installations in the north and south units pose a safety hazard from carbon monoxide, fire and oxygen depletion.7.An electrician performing upgrades did not use ‘arc fault breakers’ in the north and south unit breaker panels, which is required by the national electrical code.8.Upgrades to the electrical system, promised by a real estate agent, have not been completed yet.

Gross Rent = 8832I went with $800 per month even though similar homes go for $750 this home has had upgrades to include wood floors and new carpet.I used a 8% VAC.2. 

If you upgrade to PRO, you can go in the webinar archive and check out all his videos on deal analysis!

They made the investment to house a group for the RNC, so the investment in furniture, upgrades was made.   

We had to upgrade from a gravity furnace to forced air so we decided to do the furnace and A/C.

Last but not least, with the property being in foreclosure it's almost certain to need some amount of repairs, correction of deferred maintenance, and upgrades.

In the pictures you can tell its in great shape, the kitchen looks recently upgraded and it appears there is probably about $20k in rehab needed minimum however ill wait for a contractor to assure that.

If it's the worst building in the neighborhood, then upgrading it would help.