Leaking roofs, falling down foundations, mold rodents and past debris from previous tenants or owners.The process to buy these “pre reo” is actually a long one.

Consider this: there are an estimated 10K homes in Pacific Palisades, at least half of which were destroyed. 25% were constructed during the 60-70's and +/- 75 TOTAL were built in the past FIVE years. 

We fixed the foundation and the flat roof issues with pooling water, and rents didn't meet the mortgage just yet.In 2023, we finally started to cash flow.

In either case use the contract to create some built in relief - a longer than usual closing period or due diligence period, or finance contingency.  

And their prices went up so much that I was able to replace them with an all inclusive system including website (I had built my own previously using Wix) with OR for less.  

Year built 1922.

Have you looked at how much equity you’ve built up?

So, they can markup what they paid out and keep the difference.Most PMC industry software has these two options built in.So, it's just a matter of understanding how your PMC is marking up maintenance and not expecting it to be for free.Regarding the specific charges you mentioned - there has to be some level of trust with your PMC. 

Both Indianapolis and Louisville are excellent markets to consider—affordable entry points, landlord-friendly laws, and steady rental demand.Since your background is in data science and analytics, you already have a strong foundation for analyzing deals.

I know of some folks in KC and Memphis doing new builds like this, but they are doing it within a much larger and long-term project that includes upwards of 300-500 units built over the course of 5-10 years.Assuming you're looking in Columbia, do you have a "B+/C" neighborhood in mind?