I have seen brand new habitat homes built in the hood that given the age would be A's but given the neighborhood are C or D..conversely we see 100 year old homes in need of repairs in gentrifying areas that are A all the way.. its a combination.Account Closed  well said.. although I am glad to say as a C student I think I ended up on the shinny side of the penny.

At the same time , not only does the 90 day challenge put a battery in my back, but a mentor falls out of the sky.

I called the city and they recommended to get the conversion inspected and make necessary changes/repairs to bring it up to code where needed to make the conversion permanent.

The best option I could think of for her would be a 203K FHA loan, but I'm worried that the combined costs of the principal, interest, taxes, property insurance, mortgage insurance, plus the repair costs and even potential HOA/Condo fees would be a lot more than she could handle.

If there are no repairs over, say, a two year period, and you have $3400 saved up, what do you do with that?  

Hopefully she could find a property with enough of a discount that the PITI and the repair costs together would still be affordable, but fixing up a house with 2 kids living there while working a full time job would be challenging for most people, let alone a first time homebuyer.

Letting inspectors and appraisers in, getting bids for repairs, taking photos, filling out contracts.. 

Closing will need to be a 30 day minimum though so this may not be an option.Are you getting 75% of the "After Repair Value" when you do a cash out loan? 

Has a fully stocked operational liquor store and tv repair shop in the front, facing a road that gets good traffic.

This is an example below but easily could be done in the future of my business.I️ sell my free and clear property for 100K, which is what it appraised for.I️ purchase a property worth 160K for 90K and it needs 10K repairs and I️ wanted to use that 10K left over to invest in the property I’m purchasing.What happens in this scenario if I️ wanted to do a 1031 exchange.