or is it still comparable?

If your buying a major rehab, inside looks are advised but buying as is at the right price compared to market ARV rates maybe wirth buying site unseen...if price is right.  

I've tried looking up the potential liability of a Salesperson in the line of doing normal work.There are a number of tricky things, especially here in NYC.Just to give a clear example, let's say your client is a Buyer and you are showing him a Property built in 1960.According to the the EPA, the Buyer should be presented with a Lead Paint Disclosure when purchasing any property built prior to 1978.If a Buyer never receives this disclosure, buys the property, then later discovers there was Lead Paint, then sues.... who can he sue?

Here are a few links using the search from Google "my broker wants to buy my house".Listing agent wants to personally buy my propertyMy realtor wants to buy my house prior to listing it for sale.

I'm currently comparing buying a home for around $30,000 that has not really been renovated and rents for around $600 VS. a home for around $65,000 that has top to bottom renovations and rents for around $750 ( possibly through a REI company like Mid South Home Buyers, Memphis Invest, etc., or just finding one on my own through an agent).

Is the fact that the property shows signs of being used as a three family prior along with adequate parking (I hope) a good leg to stand on?

Make sure you've worked with the banks you plan to refi with prior to getting into any deal and verify that they are okay with the plan.

Right now their interest rates are around 6 to 8% which is not bad when you compare it to mortgages a few years ago.

It is difficult to find a good contractor at a reasonable price here, compared to other places we have lived, and difficult to get people just to show up.  

One thought is to Quit Claim one of the sales into the other LLC just prior to the closing, but need to run that one by legal.