Older properties require extensive plumbing work.

Older properties require extensive plumbing work.

Unless there are extensions to the moratorium look for that inventory to start showing up after the turn of the year. 

Full disclosure: In my case the buyer side was not organized so I had agreed to a couple finance related extensions as needed but also had a higher e/m requirement.

Many investors who are already active personally in a specific asset class want to treat the IRA as an extension of what they are already doing, which is not the case and where one will run into roadblocks or compliance issues. 

Both would still require you to extensive due diligence and probably hold very similar risks in terms of the potential for the property to be in condition holding many red flags.

The roof has leaked extensively and it will likely need to have all new systems (electrical, HVAC, plumbing, flat roof, refurbished steel casement windows, etc) along with significant updates to flooring, walls, bathrooms, kitchens, etc.

For all those taking on extensive value add projects, keep in mind the recent material price increases when figuring numbers.

And don't let the lack of zoning fool you, there will almost certainly be an extensive entitlement and permitting process.

The purchase price of the property made this a good deal, even with the extensive work that was needed.