Example: November 2023 sold for 500kListed under foreclosure for 260k now.Photos don't show any updates or signs of any rehab being started.My first guess it these were bought as rehabs without inspection and people found severe structural issues that they cant afford to remedy, which is common with the amount of water around us on Long Island.What other assumptions or conclusions would you draw from seeing listing like this one?

If you request a lead paint inspection and lead paint is found in the unit, a landlord can remediate (remove) all positive lead-paint components and be re-inspected.

Taking full responsibility for the issue, and stating your remediation efforts.

I recently switched insurance carriers for two of my rental properties and about two months after coverage started, I received a letter for each property with a list of items to be remediated within 40 days or coverage would be revoked.

Which means even if you had an inspector there on that day, it would be a few days before you could get coverage (assuming there were no issues needing remedying first, like an old water heater, roof, etc.).  

The sole remedy of the lender is the property.Now take the rest of the states and Texas in particular Mississippi for sure.. and you can foreclose get the asset then sue in court in a different action for a deficiency judgment and get a judgment against the home owner.. this is used when there Is in sufficient equity to protect the lender..

What are the steps I should take to remediate?

I personally think the remedy is E and O insurance and sellers disclosures.. just because its wholesaled does not alleviate the brokerage or seller from providing Sellers disclosures we all see them if we are doing for real real estate deals with licensed agents. 

We used the insurance company's preferred vendor for the smoke remediation… but we ‘made out like bandits’ on the painting / fixture replacement because they were wrote up  like $8,000 for the work and it probably took us 20 hours of work and $750 in materials to put things back together.  

Building finally resolved and remediated it this year and now i am selling the property.