Once they get used to convenient laundry they tend to get demonstrative about how well the machines dont work, and when theres a breakdown...

The ability to demonstrate it is invaluable.

Great list @Ky Sharp If you are confident in your analysis and buying all cash the appraisal/bpo isn't necessary but an appraisal may help you negotiate if it comes in low.We like to have two or three mgt companies walk the property during due diligence and propose their mgt plan that includes a capex and/or repositioning budget.If the subject property and all properties nearby are the only things ever built on the land there you may not need a phase 1 environmental but if it's a large property and/or you're bringing in outside capital (lenders or equity partners/investors) having one demonstrates your thoroughness and professionalism even if one is not required.If there isn't a recent survey one it may be required but if one is not required getting a new one falls under the same considerations as above.We have gone to always having an engineer do the inspection even though it can be 2x what a non-engineer inspector may charge.

You could acquire the interest in real estate as an individual and hold the investment as an individual for at least 12 months in order to demonstrate your intent to hold as an individual so that you 1031 exhange will qualify and then contribute your interest into the partnership.

Several state housing finance agencies have designed programs, specifically for use with Section 203(k) and some lenders have also used the expertise of local housing agencies and nonprofit organizations to help manage the rehabilitation processing.The Department also believes that the Section 203(k) program is an excellent means for lenders to demonstrate their commitment to lending in lower income communities and to help meet their responsibilities under the Community Reinvestment Act (CRA).

I think this quote demonstrates pretty well that the house is not paid off.

In San Antonio I have one Section 8 tenant who, on their 6 month inspection, demonstrated they don’t keep their house any worse than I keep mine.

It demonstrates that with Determination that ANYONE Can Overcome ANY Obstacles to Accomplish their Goals & Dreams!

This alone will make you look very reliable and demonstrate that you can handle bigger projects (REO listings).

you don't".As I said at the very begging, the only way is to demonstrate with receipts for improvements...just how it is the house is worth so much more today than when it was purchased a month ago.If your only answer to that question is, "I bought the house at a huge discount"...you get to wait the seasoning time frame.It's that simple.