I have bought hundreds of HUD homes and never done an inspection but I have construction knowledge and factor the "unknown" into my offers.

Light rehab, medium rehab, and full gut rehab...approximate costs with permits and work that can pass all city inspections and codes.I realize there are many unknown varaiables, but hoped that this might be beneficial to both rehabbers/flippers and contractors. 

I would run from any mortgage broker that is asking that you deposit money for an unknown specific lender. 

Without permits and proof that the conversion was done properly, even if the time and expenses are minimal, I feel there are too many unknowns and is risk of being a wast of time and money.

Understand there are some unknowns.

Everything major that we saw looks sound but there are always unknowns.

(I recently had a buyer back out because they found out that sheds were not allowed per HOA CCR's)If you reserved the right to have a survey conducted, you may be able to terminate the contract if something shows up on the survey that is not acceptable to the buyer (a drainage or utility easement that was unknown, a fence that is over the property line, etc.)Deals can fall apart over financing, as well.

My unknowns are that Philly is  might not be as landlord friendly from 3000 miles away as I'm use to in my deals in OH? 

That's my biggest concern and unknown.

As one of the "Hot spots" for people looking for very high class Belize opportunities, I thought I would be able to help answer questions and point community members in the right direction - as well as shed some light to those stuck in the unknown of some of the most beautiful ocean front properties in the world.