I wasn't kidding about that "toss an oven in" idea, I've had people do that the day before the appraiser shows up.If it's right when the appraiser shows up and looks like it's been that way for years, they generally will not question who did the work provided it appears to have been done in a "workmanlike manner" (this is common in the east bay where the housing stock is 100+ years old).

I have seen signs where the letters are so thin from a basic marker, makes it appear like nothing is even on the sign.

They are the defendant in numerous housing court cases in Chicago as well.

Still unbelievably cheap it appears to me.

So they appear to be vinyl glue down tiles.

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I see in their supplied Proforma that Net Operating Income is $75,720 and their listed Cap Rate is 5.11%.When I do the formula for finding value (value = NOI/Cap Rate), I end up with $1,481,800.What this appears to tell me is that they are charging a $218,200 premium over the value of the property when figured against a Cap Rate of 5.11%, correct?

I do have access to the on-line auctions and some "left overs" appear to have a high interest. 

I had no way to determine the age of the roof, other than looking in the attic and seeing what appeared to be newer felt paper and bright shiny nails poking through.

It's been said that FEAR stands for False Events Appearing Real, which aptly implies that most of what you're afraid of doesn't ever come to pass.