Those numbers are arbitrary unlike taxes and insurance and they vary based on age, condition, area, landscape, PM, and other things.

Depending on the rents and condition of the property, you could find a value or at least a price that would cause it to sell.

I would look at the value of the rentals before you make a decision to see if that makes sense for you.Regarding the furnishings, if you have to pay more for them (again here in FL, properties are generally listed fully furnished and you don't really get a discount to tell people to take the crap out - in fact, I had one guy refuse a good offer because one of my conditions was for them to take their crap!  

This property had significant potential for value enhancement due to its location and condition.

Full disclosure, I'm not a disaster expert, politician or climate alarmist, but according to those fighting fires on the California coast since the 1960's, Devil Winds are natural occurrences each and every decade but require highly conducive conditions to be as destructive. 

You can pick up a duplex in decent condition in a C-class neighborhood and hit the 1% rule

@Marcus Stokes, house flipping is a full-time business operation, even with current market conditions.

Finding the correct contact info is hard enough, but if your pitch is that they should sell cheap now, you're misreading the market.Multifamily properties are worth significantly less now than they were just a few years ago, and asking for a further discount due to property condition would probably result in a loss, maybe not even pay off the debt.

The property could likely sell for close to what we put in, about $230k, based on other properties in the area in similar condition.

So we never bought anything that was more than 75% of ARV current condition.