You need to know what is typical for that sort of asset in your market.

Young guys with bathroom selfies on the FB profile etc seem to be the worst. 

Allstate (captive) is not a good place to be if you need any sort of sophistication with your risk management

Worst case your offer gets rejected and you've lost nothing.

You'll have to use cash or some sort of private money to build, furnish, etc.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.What else can we assist you with?

wasting your time.. it needs to be listed with a High end RE broker who specializes in those sorts of properties..

Just buy something in a great location, get the worst house on the best street you can afford, fix it up to the level of the houses around it to force appreciation and gain equity quickly, and make cash flow happen over time by making improvements and raising rents.

It looks like there's some sort of rule that up to $25,000 can be used as a deduction against income if you are in a certain tax bracket.

So many first-time or out-of-state flippers have this happen because they think it will be manageable, but you have to manage your manager at all times.Flipping or renovating out of state is one of the worst things you can do if you haven't been to the area and met the people involved or had a long relationship over time with them.