The interior is in need of updates as well.

I would argue there's more important things than a balcony. interior finishes. we build a triplex stacked over and over and no balcony. on our infill single family home we have two rooftop terraces and covered balconies that we are designing now to sell quick. it's more of an amenity to compete and get a quick sale. 

Unlike traditional real estate notes is something that is easy to do from afar since you do not get access to the interior anyways so there is nothing you can physically inspect.You are correct that you will get $500-$600 a month in payments but also recognize its taxed at ordinary rates... 

Or do you wait until a postcard/phone call is returned and you set up a time to see the interior of the home?

We are looking at a property that has the typical old interior stairs that are just short of being a ladder (reminds me of Navy ship stairs). 

This can often be done remotely, giving you flexibility.Home Staging: If you've got a flair for interior design, consider home staging.

It's not because they are too classy to live in the interior neighborhoods or because it's too dangerous.

I find that interior designers make the best "contractors" versus a full blown builder.They value engineer better with paint and flooring, and perhaps some cabinets.

Holding on to it with painting of the interior and upgrades to countertops to be granite.

You are an interior decorator?