Economists suggest that this could have a direct effect, likely negative, on the housing market as property owners, already frustrated with having to pay high taxes lose their relief by way of their deduction.

Residents are also reminded that repairs made without "obtaining a permit, the owner may suffer steep financial consequences at a later date: the structure's flood insurance premiums may increase by hundreds or even thousands of dollars per year, the owner may become ineligible for future state or federal funding or relief, or the owner may even be required to elevate the structure at their own expense."

Types of FHA Repairs That Must be Completed Prior to Closing an FHA LoanPeeling paint in homes built before 1978.Unpainted downspouts and broken rain gutters.Rotting out-building in need of demolition.Exterior doors that do not properly close and open.Exposed wiring and uncovered junction boxes.Major plumbing issues and leaks.Inoperable HVAC systems.Leaky or defective roofs, roofs with a life expectancy of less than 3 years, composition over shake.Active and visible pest infestation.Rotting window sills, eaves, and support columns on a porch.Missing appliances that usually are sold with a home such as a stove.Bedrooms without minimize-sized windows or bedroom windows with bars that do not release.Foundation or structural defects.Wet basements.Evidence of standing water in the crawl space.Inoperable kitchen appliances.Empty swimming pools, pools without a working pump and pools with mosquito fish.Ripped screens.No pressure relief valve on water heater.Leaning / broken fence.    

It has been quite a stress relief to forget about that property.

He then watched PACER to see when the motion for relief from stay was issued, and would then talk to the owners as at that point they finally had no more options and were truly going to lose their home.

@Laura Fazio, the Service Member Civil Relief Act (SCRA) - federal law, provides that a military member has the "right to terminate a lease, if, after signing the lease: the tenant enters military service (which includes a reservist being called to active duty); or the tenant signs the lease while in military service, and then receives military orders for a PCS move, or to deploy, or as an individual in support of a military operation, with a military unit for a period of not less than 90 days." 

Entities are expected by lenders and insurers.You may be able to offer your friend more of the depreciation % (allowing him more tax relief) to further justify more of the cash-flow and equity for you.  

On some occasions you can with a little due diligence handle these issues on your own, however you have a few complications present here (past personal use, some potential debt relief, etc.).

In nevada lying on the property disclosure report can bring triple damage relief to the buyer plus legal fees.

That there would be a  few minimal items such as strain relief on new hot water heater missing, anti tip device not installed on cook stove.