Make sure there is an outstanding gutter system and everything grades away from the house.  

I have to admit I am fascinated by it and my curiosity is coming up with more questions than I have knowledge or answers for.I see many posts in the forums that mention the neighborhoods people are invested or looking to invest in rated on a graded scale..... this neighborhood is a "B' for example.How does everyone analyze and what data points are commonly used to come up with and then assign this "grade"??

I am also putting a sump in as well as an interior perimeter drain to deal with the water as well as buying dirt and correcting the poor grading, and fixing the gutters.

It has not held up very well and I would generally not recommend pursuing paper floors, especially if you are renting to tenants.While the condo is above grade, there was a concrete subfloor with some large cracks/splits/roughness that wouldn't be a problem with carpet pad or foam underlayment for wood/laminate, but these irregularities caused all kinds of problems with the paper floor.

I am sure you have your own evaluation formulas but here is a brief example of how you may price this out:44X400 per month ($17,600) Gross income monthlyX 6 mos ($105,600)Divide by cap rate 10,11,or12 (CAP Determined by Grad of area C/ C- /D)10% Cap = $1,056,000-Repair Expense $250,000 = $806,000 divide by 44 units= $18,318.00 (price per door) This would be a good buy:)This is based on C grade neighborhood

It depends on who is doing the work, and how high grade you want to/should do in that neighborhood.

In my opinion if you have mold below grade it often requires a lot of water remediation, gutting of all material and then still crossing your fingers. 

@Cory Mccarthy  all sectors crashed.... new construction  buy and hold , lending it was across the board.Now I know this site is primarily a buy hold /  specific areas got hammeredJust ask the new crop of apartment syndicators they got smoking deals on units because people lost jobs and could not pay rent.Ask anyone who owned units in Vegas or PhX when construction cratered and half the renters left and went back to Mexico  Buy and hold on its face does not insulate you from an epic crash like that one.In some markets it probably did and defiantly for the higher grade assets.. but remember this was also a job loss issue.

Remember learning math in grade school?

Money Management 101' needs to be a required course in the 8th Grade or earlier.