Property Managers want to make their lease up job as easy as possible and bringing a property up to like new condition is one way of doing that.

It seems like a great time to revisit the conversation, especially considering how rates and market conditions have shifted over the past nine months.

People are now locating their properties and trying to find people to manage or even if they have tenants, who is paying, who is not and finding the homes to be in sub par condition.

And we rarely need to use them.Tenants sign and initial each page of the condition report at signing, we quickly go through the property and let them take as long as they want.Ideally at move out they would sign the condition report, but this is nor normally done. 

You will need to factor in rehab costs, which could easily eat up another $50-75k depending on the condition.

., location, property condition)?

I have a little hard time estimating a fair market value given these conditions as I don't know how much to discount the value of the house with these issues presented.

If the seller misrepresented tenant conditions, consult a real estate attorney about potential legal action.

Also the 1% rule is about as good as the rule thumb and not based on current conditions or current data. 

How long has it been on the market, what condition is it in, what do the numbers say?