It is stupid because you get what you get and these houses may be retail quality, but likely are foreclosure quality, needing lots of repairs.I did not have entrance to either house prior to purchase.First house I knew has condition issues inside, and major roof issues. 

That type of house, in nice condition, would cost here in Milwaukee probably 140-160k, if you go into a nicer school district in the suburbs about 200k.

If the numbers work on this place AND the unit condition reflects the $33,653/unit price then it may be a great property. 

So when I say relative, I mean the type and quality of property is a factor.The 1% or 2% rule doesn't take into account expenses or condition of the property, so it is not a complete metric.

There is always a place near the end of the realtor's contract that you can write any additional terms or conditions. 

It was simply a condition we thought we would request to see if the seller was amenable to.

Appraisal will be based on market data and property condition at that future time.

But I also got to check out the condition of the apartment, and walk through the common spaces making sure all seemed well.3: Yes, I love Cozy!

Underwriter will condition for the most recent (2018) year of tax returns and proof your business is 2+ years old.

Once the apartment was in move-in ready condition I had it leased to great tenants within a week or so.