Ziv Magen, agree with your statement of Berlin and other big towns.Checked just Leipzig and found properties in need of rehabilitation from 42k Euro but for a nice rehab for an 4 unit in Germany you will have high requirements so I assume about 25k per unit for the rehab.

It was used to build up rehabilitation in Philly.

If on the other hand these funds participate in community outreach rehabilitating communities, they could experience profitable growth and increasing ROI.

First, my plan is aimed at apartment complex's containing 15 to 50 units that need very little rehabilitation.

I would say that generally most buy & hold investors are expecting some level of rehabilitation to take place.

I am finishing up my business plan and will soon have a generic project plan that I will use when I start rehabilitating properties for resell.

Now I have to rehabilitate the apartment. 

I am rehabilitating an apartment and it has fleas.  

Your time and money will be spent in paperwork as opposed to rehabilitating the property. 

Most of those require rehabilitation and time is your enemy.