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One big problem is the house has been sitting unfinished for about 10 years and raccoons, squirrels, etc. have destroyed parts of the siding and the foam insulation in the walls as well as parts of the roof.

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During the demo some wood work was destroyed and ruined. 5 weeks basically for a half paint job and some demo.

Hi BP Experts,We had a roof leak that basically destroyed most of the inside of a house we own.  

And ya, they buy some crappy houses, and I have helped with the church on cleaning up after the tenants destroy the place so I have some first-hand experience there.

But should you start digging into walls and/or removing siding in order to determine extent of damage or repairs you will be responsible for repairing what you destroy in the process and this often results in the deal breaker as it's too expensive and time consuming to go down that road. 

The garage damage was extensive. half the sill plates were gone, and a lot of the studs on one wall were destroyed.

Now, you can get greedy (as I probably would be in this situation, putting aside the worry that one of the Airbnb guests are a bad apple and destroy the place / stay around and you have to evict them).It could be a win-win.

For any property with a septic, they will destroy your septic.