, much of the deterioration coming from chlorine in the water. 

Banks aren't going to fund 10% NOO deals.They did when markets were on fire and properties appreciated like crazy and nobody saw any risk.Today they have a bunch of junk on the books they are still clearing out for years to come unless they are a new bank which started in the last few years.Even if that's the case they will be prudent in amount down to have safe margin loans in a still declining market for most areas.Data shows when it gets tough investors will let properties go everyday of the week,If a value declines on a 10 percent down investor loan it will not be enough to cover foreclosure proceedings,attorneys fees,selling the property,trash out,eviction,non loan payments while trying to foreclose,deterioration of property while you wait to sell it,agent commissions and on and on.It is is easy to see that banks would take a bath on putting just 10% down on an NOO loan.You need to define if you are wanting a flip or a long term hold.Even if you can find a 10% NOO form a private party you will not like the rate.

Since you are not local, have your property management company or tenants send you some pics with the deficient stuff about the property if there is anything (sheetrock cracks, deteriorating fences, anything outdated, etc). 

After home inspection the siding which we thought was just cosmetic was explained to be compromised allowing water and wind to easily cause further deterioration. 

The Inspector found Deteriorated Piers and Support in the Foundation.

Some of what you say would be better handled buy the trades themselves, a bad roof with mold in the attic is likely one issue needing roof replacement, get a roofing estimate including wood decking because if it is deteriorated it needs replacement (inspector report should make this clear). 

These businesses are saturated with experienced people, who are seeing margins deteriorate due to competition.

The housing stock was very deferred, and deteriorating.

After an initial assessment, maybe every other year if key components are solid, until there is notable deterioration.

If investors don't buy them, fix them up, and rent them then they will deteriorate and make the rest of the neighborhood look bad.