I was planning to offer $35,000 - $37,000 in hopes of getting it for about 40. 1 bedroom 1 bathroom 512 sq ftThis is a non-warrantable property because the complex owns a majority if the units.I spoke with the complex manager and their identical units are not rennovated, (nor is this one) and are renting for $850.It's in an apartment complex with a fitness center, laundry facilities, pool and clubhouse.What do you think of this investment?

Your concerns are warranted.  

So my question wasn't really warranting such a generalized and unthoughtful response as you had chosen to give. 

Condos may struggle to be conventionally finance-able due to warrantability issues.  

I have a clause in my lease that states that the appliances are there for the convenience of the tenant but are not warranted by the owner.

If the refinancing results in a lower interest rate and saves you money, then it is warranted.

This will protect you and insure they leave.Keep in mind they have done nothing to warrant special treatment.

.$150 a foot gets me a solid, higher-end spec build that includes custom (painted) cabinets, wood flooring, good tile, grohe fixtures, Bosch or equivalent, nice tubs in all bathrooms, quartz countertops, solid doors, foam insulation, nicer windows, etc.Where is warrants it and I put in even higher-end windows, and an appliance package upgrade.

Properties like condos in a complex where a large percentage of them are owned by investors (non-warrantable).

I'd say, have a warrant issued for his arrest and offer this settlement: he gets the appraisal done within 4 clock hours AND repays the $700 to you in cash.