It's quite attractive, but probably not used much because of the mess involved. 

In my market, homes with foundation issues do not keep pace with market value trends.  26 piers, filled cracks in the foundation and sloping living room walls would only attract investors and would sell at a decent discount.

I was mainly trying to say it wasn't a commercial loan.  

The main reasons to hold would be:1. 

If the sanitary conditions in your unit are such that it attracts pests of any kind, and it becomes necessary for us to undergo remediation in the building, you will be held financially responsible for reasonable costs thereof, paid as additional rent.This is what I use. 

The main advantage purchasing an existing facility provides is some income while you are stabilizing the property; even if the owner only has 30% occupancy, that's better than starting from scratch with debt service payments.

I got my RE license for one main reason:  To avoid having to deal with agents as much. 

I'm not sure how it would be in Florida, but the main goal they teach you is how to pass the test. 

Mainly, the systems implemented are fascinating (VA, automated offers, etc.)

It is not in the best (Or Worst) neighborhood so I know it wouldn't attract the best tenants but if I screen properly I think I would find good enough tenants to take care of the property and pay rent on time.