Damaged by Hurricane Sandy and will be sold as is.

In addition, I tend to do things like install quarter-turn shutoffs on all the water lines, make sure smoke detectors are installed, all lights are working etc.

What if the property is under water?

This is not a sandwich option deal being so far under water.

Most rehabbers that i know don't pull permits for anything other then serious structural work that changes square footage (room additions, expansions) and other new beneficial additions that need to be reflected on the title or public records (new HVAC with ductwork, changes of gas water heater to electric, etc).Hire a good good licensed contractor to give you an unofficial honest opinion for a nominal fee, make notes of everything he says, then hire an official inspector, see what he finds and also point out the things contractor mentioned to discus further.

If you can't carry the water, consider a partner who is familiar with your industry and make sure you can buy them out in the future.

It had a new roof put on in 2012 (very plausable as we had a big hail strom that did a lot of damage, and furnaces replaced in 3 of the units in 2005.

Wayne, I have actually had agents just give me the code before, but I understand it is not ethical, maybe even illegal, for them to do so as what happens if you are injured on the property or leave a door unlocked and damage occurs as a result?

Such arrangements can take you from a non-judicial foreclosure into a judicial foreclosure, from your eviction court to a foreclosure, or from doing an eviction and then making allowances for improvements made, it can also go the other way if the work is not professionally finished as a damage, or code violations.

For the most part Louisiana is much the same as other places I've visited (with the exception of New Orleans) just more water and humidity.