I can’t speak to the numbers since I have not seen complete plans and specs and finishes level of construction site conditions etc. but overall they look average for a typical straightforward project with vinyl siding or fiber cement siding shingle roof mid grade level of finish.  

They still have pile height, but the traffic areas have 'clumped' fibers, instead of those individual fibers you see on new carpet.It's always when the house is vacant that tenants notice these things.

I wouldn't depend on their high moral fiber to do the right thing. 

I do not live by crisis management but I do incorporate the unplanned expenses in the business model tough. 

Do you suggest incorporating a reserve fund as initial cash outlay in analysis of deals?

These developments are incorporated--hence, are corporations, and run like corporations, for the good of only the corporation.

.: our attorney, the attorney for the buyer & Title Company etc) always require from us to compete the sale etc.So you will quickly appreciate that it's imperative that you maintain detailed/updated LLC docs. 1.Certificate of Incorporation. 2.Proof of Publication 3.Operating Agreement, including who has authority to sign on behalf of LLC 4.Affidavit that no changes has been made to the operating agreement 5.Resolution authorizing signature of transfer.....

It was indeed a different address than the property in my neighborhood and the property was incorporated under an LLC.My question is this.

Check to see if the house or property has a story and consider incorporating the story into your rehab.$275k Might not be a bad price for buying a few acres of premium land, plus demolition costs

Our company Saxxon & Associates (comprised of 10-15 years successfully) landed here after a 3 day seminar/workshop of niche market house flipping, incorporating what is relevant in accessing hard money lenders.