Ask your friendly title company to create a HUD-1 for youWith the offer attach pictures of all the ugly things about the property; the landscaping, broken windows, bad walk ways, bad fencing, green water in the pool, any nasty pictures of the interior, the estimate amount of renovations neededWrite a cover letter stating what you will do if they accept your offer; secure the property, insure the house, pay all cash, take care immediately of the roof problem, protect and secure the house form squatters, have the electric turned on, notify the water department, notify the local police to keep an eye out for vandals...etc.Since no one at the bank can make a decision as fast as you want, put a drop dead date in your offer.

It needs about $100,000 in repair to bring it back to rentable condition: roof, sidewalks, walkways, make readies. 

When the city inspector came through, they dinged the seller for various items, here's some;-Handrails-Windows-Walkway (concrete) is smashed-Railing (outdoors)-Electrical indoors and on porchesWe drove past the place the other day, and nothing was fixed on the outside, but the seller said it was reinspected by the city, which actually was.

Get an architecturally correct front door (if it's not already there), and create a nice walkway (brick?)

All prep done.Install tub shower combo (3 piece surround + tub)Install towel / tp holderInstall toiletInstall 1/4 turn stainless steel valves on sinks, toilet, fridge, W/D (if applicable) Paint exterior with minor prep/repair body and trimInstall 5 smoke and 2 co2 detectors Clean roof and gutters (standard 4/10 roof approximately 80 L/F guttersPressure wash walk way (3' x 30') / driveway (20' x 60')Final cleanHere are a couple pictures of our typical flips before and after. 

I would want to have 36" clear walkway in this space.  

For future reference here are some other issue that could give you problems with insurance on rental properties:- Knob & Tube or Aluminum wiring- Fuses - less than 100 amp service- flat roofs- tenants with dogs like pit bull or Rottweiler - branches overhanging the house- broken/Cracked driveways or walkways- Decks or stairs with out railings.- lead paint- galvanized pipes- flat roofs- in ground tanks (active or inactive)- pools- trampolines- EFIS and or asbestos siding/shingles- wood or pellet stoves (may be ok if installed by licensed contractor)Not all of these are problems with every company.  

We also redid the cement in the backyard and added walkways, new sod, new water heater, new garage, new windows and doors, LED recessed lighting throughout, new carpet, drywalled the garage and epoxy'd the garage floor, and as an added bonus to the homeowners; purchased a brand new samsung washing machine and dryer.Purchase price: $510kRehab: $115k (Includes labor, finishes, taxes, insurance, utilities, etc...)Commissions: 2.5% = $18,750Sold for $750kProfit: $106,250BEFOREAFTERWe added the subway tile after a couple days because they weren't installed yet during the professional pictures.

Hello,I own an apartment building in Little Rock, and am considering redoing the walkways - replacing the concrete slabs with bluestone or flagstone.

I'm moving to a recently purchased 2-family in June and I plan on asking the longer term tenant if they would assume a pseudo-property management type role (cut the grass, shovel/salt walkways, etc) in turn for not raising the rent when we extend their lease in April.I don't think the current value has risen enough to eliminate PMI yet but incentives that's gone it will provide a nice boost in monthly cash flow.