There was severe smoke and water damage, and an existing sagging second floor from the weight of the water, but we knew that was able to be fixed.  

The size of the team, length of time in business, ability to communicate clearly and quickly how you benefit from doing business with them, etc....these are the important factors for you as an investor before you buy.In my opinion, everything else is just meant as smoke and mirrors.  

But If I get a smoking deal on a jet I will go for that   LOL and throw the previous comments right out the window

Property-specific addendum information (i.e. smoking only on balcony, allowable storage use of basement, etc).6.

That means they can get smoking hot deals and face little competition.

I've had to hold on to evicted tenants cigarette smoke-filled crap before so I feel where you're coming from @Benjamin Mueller.  

So we 'helped' move all his belongings to the storage area we have on-site & then gutted the horrible 70's era, heavily 'smoked in' unit to the studs.

The Portland market is smoking hot right now.  

The ones that want fixer uppers are savvy buyers who can do the work themselves and want to get a smoking deal. 

Smoking offer - that's awesome!