I've built (uncovered) decks in the desert and just used a real expensive sealer, recoated every spring, and after 10+ years, still going strong...

After the plant shut, the property could never break free of 20-30% vacancy.We learned some great lessons. 1) Be wary of a property that is dependent on a industry (this is very hard but good due diligence can uncover a lot). 2) Have a contingency plan for every situation.

@Chris TracyActually, I'd like to buy and hold this one since it cash flows so nicely. 

It would be so nice if one of the LEGAL EAGLES on Bigger Pockets could respond to your concerns.

Even if the seller intentionally hides expense line items, couldn't you consult with an experienced property manager to do a walk through with you to uncover likely expenses?

I am hoping this thread can dig deeper and uncover some less obvious areas we all need to understand better. 

Some of the bigger issues like why they’re hiding the basement and the state of the electricity will be uncovered and dissected during the inspection period.As for everything else, I would be more than fine putting another 10k and finishing the bathroom, supplying appliances, and touching up the rest of the house.The way I look at it - I’m then still getting a 50k house that’s better than many of the $85k houses in Warren just one mile north, while the rent is only $100 or so less per month.So even with the flaws and observations you keenly pointed out, it doesn’t dissuade me at all, barring major issues that I wouldn’t know about until inspection.  

The broker doesn't know what has gone on so give him a break.Then, you ever so nicely and kindly tell the broker that you are about to make him the best known broker in Southern California if he doesn't see to making this right.

What an incredible deal you uncovered!

Heck, if he is brought to justice, we may uncover other such issues too.