These properties are more difficult to finance than more traditional property types.

Guess that will give you a few more items for you to consider.

This means a traditional closing with all the related fees.

The roi mentioned might be nice, but isn't likely long term, because the seller is leaving off a couple of key items - maintenance (beyond mowing the lawn), and vacancy.

You jump through that hoop and then Friday at 3 PM they add another hoop or item to get back to them ASAP.

At the very least, have the closing company or attorney hold money in escrow pending the seller's providing these items.

Kitchen & bathroom upgrades are usually the items you would want to upgrade if selling the property.

Thanks Joel for putting a specific $ amount on each item.

That's not reality & I'm sure that line item will go up with time.My point was to educate the newbs to stay away from condo HOA's & to always put $ aside each month for unexpected costs.

There is always something after closing but before you've settled into the typical long term behavior for the property - filling an up-front vacancy as in your case, dealing w/ random smaller deferred maintenance items, and so on.