Real estate typically appreciates over time, meaning your property could increase in value even if you don’t make any major improvements.

In major good jobs cities, sellers are willing to wait and re-list. 

The windows, roof, electricals, plumbing systems, and gas lines all need major upgrade to bring the property up to date. 

Greetings from Arizona.I am an agent in the greater Phoenix area, servicing the majority of the valley including Tempe, Scottsdale, Paradise Valley, Mesa, Chandler, Gilbert, Glendale, etc.

The other benefit to new construction is that you shouldn't have any major expenses for several years. 

Also zoning, exit strategies, and market value rentals are helpful in knowing since a major part of making sense of the numbers is bringing all the units up to market value rental income.

U know like banks that have long lost accounts.. escrow money that is refunded and cant find the borrower ( this happened to me personally LOL)  those funds go to the transportation department at the state.. so who could figure that out with out a little digging. 

Sometimes approval or confirmation from the LAHD (Los Angeles Housing Department) which would be a document you submit confirming the exemption status of the new units.

I tell our STR and Airbnb investors in Colorado that the audience for a response is not the just-departed guest at all.

For the bankruptcy properties, we contacted the trustee phone numbers on the website, however, they usually just replied to ask us to look for debtor's attorney.For short-sales, we searched the listing on zillow.com, but majority of them are off market.We used BP recommended realtor and asked if they can help with the properties we targeted, the realtor searched for a week of the foreclosure ones and get back to me that she believes she will not be the right partner.