Starting bids look like $1000, median sales price $1600.   

I am putting 20 % down ( 90K) but I see there is about 27K in fees and closing cost.

Purchase price: $260,000 Cash invested: $80,000 Sale price: $380,000 Purchased this house from the family of elderly lady that lived there.

If you have a larger portfolio to deploy, they are not going to be close enough to fulfill your needs, and you will have to find other options.

I've owned a couple rental condos that I sold in years past, but I've never dealt with the sale of an apartment building so I'm pretty new to this. 

Look for reviews, recent closings, social media presence, and responsiveness.

As part of the renovation, all of these were remedied however the violations were not cleared as I suspect the renos were done without the full permitting.The purchase agreement had a requirement to clear the violations prior to sale but the Seller and I agreed a fairly substantial seller credit to clear the violations as it was recognized there were risks around the renovation work and potential non compliance with permits that I may have to remedy.

Close the Deal9.

Its not bullet proof but close to it.  

What happens upon sale or if the family member should pass away?