For some condos you may need to insure from the Studs in while others it is from the surface of the walls/floors. 

ALWAYS ALWAYS ALWAYS have a qualified professional inspect a home before you buy it so that you at least have a surface level idea what you're getting yourself into. 

Now if he chimed in here - totally different animal, but I don't know what his situation is and it does me no good to out him other than to create more problems for both of us.As for lessons learned:- As much as the hard lending looked pretty straight forward on the surface, there are more details I should have spent time fussing over and learned about.- It would have been good to have had someone experienced assist and/or look over the process to make sure we were protected, even if I had to pay a lawyer to help cover things.- It's definitely a different process/vehicle for investing than regular rental property.  

House built in 72 had a hoarder in there,  surface mold on walls, 5ft hole in roof  can see daylight from 1 st floor floor spongy in that area of course.

You get to see your top three and you can pull up any other candidate to see where you line up and where you differ.If you want to find out more about specific comments or views you can drill down a level.Very good site for understanding positions without focusing on the names or the other surface things like photos.

So you can see how tough the surface is.

If there is then the fasteners used to install the roof may not hold in those areas.Secondly, because you are now installing over an irregular surface (Which the manufacturers frown upon) you not only may have no warranty on the roof, but the shingles on top can form over the lumps underneath and crack in those areas which can lead to leaks, blow off etc.There is also a longevity issue that this causes. 

Again I have issues with every paragraph posted by Scott, not to argue but it's much deeper than the surface he's attempting to scratch, IMO.I fully understand those in the business of dealing in notes without the proper licenses attempting to justify their activities being exempt and by using terms devised such as "referral" to define such as an exempt activity.

I usually will find a bunch of properties that on the surface I would have offered on but are currently under contract.I start with these pending first.

Now your mess is recessed below the surface, and you can make a standard application with your compound.