I do not wholesale so take my words with a grain of salt.

Hi MarinusI'm not from either of those locations, I'm from Salt Lake City, Utah.

I live in Northern Utah and I have been looking and looking in Davis and Salt Lake Counties and haven't found a ton of deals, everything seems vastly over-priced.

Take everything with a grain of salt, as there are many ways to lose money in real estate. 

Even when using the highest grade solar salt, shampoo and body wash were simply difficult to wash off in the shower.

Power wash it then decide if it's sound enough to just spray with a good coat of exterior paint, easy spray paint job top to bottom inside & out. .. touch up trim with a accent different color.. it's cute. 

Wall wash with TSP prior to painting if possible,, if the ceilings are flat (not popcorn) wash also, a sponge mop with a towel over it works great and fast..2 buckets one wash one rinse.you wash everything,, doors, trim, floors, cabinets, light fixtures, all windows glass and tracks.Bleach is ok to use but I've found that TSP is best thing to actually REMOVE the nicotine,, you'll be shocked when you see how well it works. 2 Prime, Kilz primer to seal anything your going to paint.3 Remove all blinds, throw them away the plastic retains the odor and they'll be gross anyway.4 Air Ducts if you can reach inside wash out.. then spray Kilz in them as far as you can reach with the system off.  

Andy, please take this with a grain of salt.

But basically, take what I say with a grain of salt. :)Depending on where you move in VA you may struggle finding a move in ready MF property for that price so you may either need to put some of your own capital in there (if that is an option) or do something like an FHA 203k loan to start.

@Sasan Nemabakhsh...Feel free to take what I'm going to respond with a grain of salt, and while not exactly the same, I've worked on some hospitality construction financing, and the lender I've placed with has appetite for ALF construction.I don't know about construction cap, but end should be running at a 8ish, on ALF, from my knowledge.You should definitely get a 3rd party feasibility study done to determine the answer to the question of market due diligence.