Purchase price: $260,000 Cash invested: $120,000 Sale price: $535,000 Complete gut, new front and rear walls, all new electric, HVAC, plumbing, roof, deck, windows, interior What made you interested in investing in this type of deal?

By definition, these type of loans are not the same quality as what is traded on wall street. 

If in your shoes I think I'd call sellers bluff and put em against the wall of it via how I construct the purchase offer.

Like out West here my Wife hangs her license with a flat fee Broker who only charges something like 200.00 a month so she pays it annually and there is NO split with the Broker and something like a 100.00 transaction fee.

:What did he say about you hanging out with Jay again?

Install low profile LED lights or wall sconces.If this is an investment property you need to be thinking about returns.

It takes work, training, skill and perseverance, and once you get the hang of it, they keep coming along.,  

I would be surprised if the city *doesn't* require the walls to be opened.

Walls are priced one way, ceilings another, then you have baseboard, trim and doors. 

Is there a clause stating he can't remove the copper pipes from the wall?