Related to what @Rick Pozos indicated, you need to get a time of death (TOD) appraisal.  

(full disclosure-I knew the guy, or know him, he's not dead just gone from the auctions and haven't talked to him in a few years, but he was always nice to me and I don't have a clue as to the validity of the federal charges against him, but he always treated me decently and I've got nothing bad to say about him and I know other landlords who've been demonized and slurred as slumlords when I think they simply bit off more than they can chew, while other real slumlords seem to operate for years, as long as they don't get too big) He used to kind of dominate those auctions and maybe that was a good thing, as I'm sure there's a whole cast of characters who've filed that void.Thing is, ANY property under $100k, maybe even under $150k or $200k will certainly have multiple bidders, there are a LOT of people like me when I'm looking, who have the subscription to the sheriff's sales info reports from the Daily Reporter ($600/year and you get the results emailed to you in an Excel spreadsheet on Tues, next weeks auctions emailed on Thurs) and another good indicator is I'm on an email list for one of the firms (actually out of Chicago) which handles a tiny, tiny fraction of the cases and I've looked at the "cc list" or whatever you'd call it if ALL the addresses that email is sent to and there are HUNDREDS of them on there and this is for I think Johnson Blumberg, who many weeks don't even have any cases in MKE or Waukesha Cty.

A negative cash flow indicates a possible down payment.

The market absorbed -19,000 square feet in Q1, indicating slightly negative demand.

The best indicator is whether the city has significant and sustained population growth.

In 2024, 2-4 family properties in Nassau have been sold nearly two weeks faster than they were selling last year.Further indicating a hot market, median sale prices have increased by 11%, which is more than any of NYC’s boroughs.

There are some indications that they may not sign, some personal family stuff that I don't want to get into. 

A tenant complaining online might indicate that the property manager handled them appropriately, so be sure to ask the manager for their side of the story.7.

Here is the summary if you are interested.In this case, the main question is when did the investor completed his start-up phase and became actively engaged in his business.Whether a taxpayer is engaged in a trade or business is determined using a facts and circumstances test under which courts have focused on the following three factors that indicate the existence of a trade or business: (1) whether the taxpayer undertook the activity intending to earn a profit; (2) whether the taxpayer is regularly and actively involved in the activity; and (3) whether the taxpayer's activity has actually commenced.

The Court did NOT explicitly indicate whether or not it would qualify as Section 195 start-up costs.