We buy fixer uppers including houses on demo lists and condemmed lists)  Our purchase prices range from 3000 to 25000 depending on the house but all end up being worth between 45 and 70K at the end. 

@Dustin Verley @Bryan Potts Didn't really look like a disaster (until after demo).

I have no input on this strategy, I just know it becomes land if you do a full demo.

I got the property demoed (broom cleaned).

No additions or demo.

You'd need a bid to know the costs of demo and removal if it is, or costs to renovate if it isn't.

Demo is done.

Originally posted by Demos Loizides:John Miller - what you said may be true for Florida, but not in the Washington DC area.What part of what he said do you disagree with?

Got it as an REO, previous owner did all the demo for me, took all doors, light fixtures, appliances, cabinets/counters and the furnace with him.

You can always go down but not always up unless zoned.MOST are converted back by knocking out blocked off door or stairway if they have outside treacherous steps,,demo those too,,and demo crappy cabinets upstairs.most of these are so bad of shape nobody wants to rent them anyhow,,,or landlord paid utilities exceed market rent anyway.they all go to rent subsidized ground floor apartments,,nicer and cheaper