@Orlando Paz very true- maybe theres a way to have a "hitching post" to chain it down with a lock and key? 

She's a gold mine for north side Chicago MF advice.

Negotiate directly with the owner of the property, showing her the cap rate and the value based in the CAP Rate and condition of the building  Get in the chain of title by making her an offer well below the market value and based on the cost of abating the code violations, the low offer  would be an hybrid, meaning paying her a percent of the net profit realized over the contract price.

Those are rare and worth gold. 

JohnI couldn't agree more regarding what you are saying about a good contractor is worth his/her weight in gold!!

I do know what my grandfather used to tell me, "A bird in the hand is worth two in the bush"--and someone else, whose origin is unknown, "All that glitters is not gold!"

That chain of title is probably nothing unusual these days, but those not educated in real estate matters don't know the issues that quit-claims can cause versus warranty deeds.Don't try to cut corners on his one.

You guessed some of it, the appraisal, condition, chain of title. 

I estimate with fresh paint of coat and two little things that need fixed (one of the bathroom faucets is broke and the pull chain on the ceiling fan is broken). 

It's a gold mine of RE information and the best is its FREE.