With a short supply of homes on the market and limited new construction, communities that were once considered unsavory are now becoming desirable investment opportunities.

IF you have a lake close by and a way in you can get ALOT of water underneath,  Second check for leaking pipes under there right now,,,both supply lines and drain lines. 

Lol especially when you have a smoking deal.

Well I suspect its broken neutral on the supply line , if I am right you could toast electronics , and if there is too much draw on the line it could fry electrical panels or worse .   

Hi @Noah Hoffman, and welcome to BP.That 20%-25% equity can come from multiple places:"Natural" appreciation, which is simply tied to supply/demand for housing and the local economy.

They look at the appliances, roof, condition of walls, underneath all sinks for leaks, fire extinguisher in order, smoke detectors operational and working, screens on windows, locks on windows and sliders, A/C filter changed.

Whatever they supply will be better than what you can expect because that property likely has annual visitors that book that property every year (yours won't).

You will need to go to a plumbing supply house to get it. 

Smoking?

I worked for a building supply company stocking the warehouse, filling customer orders, driving trucks to deliver lumber, shingles, and sheet rock.