To schedule an inspection you can go to https://aca-prod.accela.com/CHESAPEAKE/customization/common/... which will take you through the process.The other thing you should be aware of is that somewhere in this property you are sure to have Knob and tube wiring.  

I'm curious to hear if this is a common strategy?

Appraisals for storage facilities are not always common in smaller markets5.Develop a detailed business plan, including a marketing strategy, capital expenditure budget, and growth projections.

This is very common with newer or mom and pop investors. 

-Has no crawlspace (common for older properties) so we couldn't see the foundation-Drywood termite/wood decaying fungi damage seen on all the windows/doors/parts of the beam on the exterior, parts of roof decking and rafters in the attic-Old leaks/moisture damage seen in the ceilings and attic-Parts of the roof has patch work-Roof doesn't have any permits on record (don't know how old it is)Seller's offer to me:-Fumigation treatment for drywood termites (tenting the house)-Replace and repair all damage wood throughout the house-Replace the entire roof with a new permit-Replace one window in every room (not all)-Pay for a structural engineer to inspect the foundation-Offer to get quotes for repairs and have a 15-20K budget to make all repairs, house is 500K.

You need money set aside to handle these all-too-common scenarios.Second, the market peaked and hasn't fully corrected.

Software is a common question on BiggerPockets.

It’s common on the commercial but with all the changes coming up this will be the new normal for residential.

I don't think investors understand that in many foreclosure situations they are going to lose interest for sure and principal ( very common). the thought that 20 or 25% equity is enough coverage to alleviate a loss does not play out very often in a foreclosure situation.

@Jason Khoury To piggy back of @Katie Smith, Yearly assessments on condos, a common practice, can significantly impact property cash flow.