Cap Ex needs to be determined by property age and condition.

Depends on many factors, needs of a seller, your needs, type of property, property condition, use of the property, potential of the property, value that may be added and time frame.Many other factors too.RE is not a step by step, deal thing, it is as much an art as a science you won't paint a master piece with a paint by numbers set!

Also, an appraiser would ask if the prior sale had any Conditions of Sale (which includes a seller credit) and not disclosing the $20,000 credit would be fraud.

Many of these properties are in poor condition.

It's a 78 double wide in decent condition but not on a foundation.

I just got notice that my insurance company will not insure my roof on my SFR because it is too old or not in the best condition.

Permits (its ok for a homeowner to do anything themselves but a landlord has to have a licensed plumber reconnect the kitchen faucet when changing out countertops), inspections, etc, etc.Its ok for a homeowner to do anything they want and live in a house in any condition they want, but its not ok for a renter to?  

I have about 13,000 in cash, the foreclosure I am expecting to be worth around $200,000 once in good condition, hopefully normal maintenance is all that is needed (i.e. cleaning moss of roof, landscape cleanup, paint, etc.). 

The goal is to get the house to renting condition. 

Can they know the local market conditions?