If you love horror stories you will love this :).  2 exterior walls (brick facade) need to be torn down and completely rebuilt, hanging asbestos abated, 6 units were vacant or abandoned (this was suppose to be a fully functioning apartment), ventilation fan in bathrooms are shoulder height IN SHOWER WALL and not on gfci.  

Blake King sounds like you have a good head on your shoulders.

Stand on the shoulders of Giants!

If it's vacant, that's going to be close to $3k/month on your shoulders when it's not rented.If this is the only area you want to invest in and you aren't interested in going elsewhere you may be stuck with deals like this, I just don't see the value up front.  

Also, as I've conducted interviews for dozens of PPC managers, it's almost impossible to tell the difference between someone who can 'talk' about PPC, and someone who can actually implement it, without me giving them instructions and sitting over their shoulder to verify their knowledge.

You just need to make sure you water heater is double strapped, make sure the appraiser has access to the attic for a " head and shoulder view " Also make sure all flooring is covering every inch of the base or concrete.

No boss looking over my shoulder or calling me into the office to ask why production is down.  

Over the shoulder sessions on 5 deals. 

We do have a window in a shower with frosted glass, it is about shoulder height.

I put blame squarely on the shoulders of the rating agencies like S&P and Moody's that slapped AA ratings on MBS backed by subprime and made it available for much less sophisticated investors like pension plans.