One of my wife's uncles was in charge of one of the properties which is zoned for commercial/residential, it is a 1708 Sqf office space/small warehouse on .36 acre lot.Which with some research it can be split into 2 lots.He let the property go to the dump, needs a new metal roof, and gutted, replace plumbing/bathroom, replace electrical etc...Now my wife’s Aunt is in charge of the estate and she was the one who approached me.She said they will "sell" me the property for $30K (estimates from Real estate agent say property is worth $43-$53K in current condition) Which then I could clean the property up and try to resell with the improvements.Now if I did replace the roof make the inside look nice and clean the overgrown landscaping I was told (real estate agent) it could get about $60K, but there are back taxes and liens on the property as well.Plus closing cost for when I sell it, I have run the numbers and it seems that I would MAYBE make $3000-$9000 conservatively.But I am real concerned over the fact that it is used as an office/commercial, and wouldn't this limit buyers?

Regardless if you buy a house for 1k,  5k,  or 10k once you are done remodeling it, past due taxes,  water bills,  stolen electricity and what ever else might come up you are into these units for roughly 20k.  

If this is a summary probate (PC 13150) there are no interim duties or powers granted the petitioner.

As investors you aren't going to blackout because the electric panel isn't up to code right?

@Thomas Hart Getting a real estate website is an powerful tool that allow you to have full control over your brand.

If you ask them to objectively evaluate the condition of the house - say on a scale of 1 to 10 - your start creating doubt in their mind about the value of the house and set the stage for you telling them why you can only offer $X on the property, because there are $20k in repairs that are needed.By asking them where they came up with the number they are using as the value, you set the stage for challenging that belief, without it sounding like you are challenging them.Language is a powerful tool.  

If he illegally tapped into the electric grid to bypass the meter and avoid detection by abnormally high...not that kind of high....electric rates.  

The new owners put $8,200 in updates (HVAC, electrical, etc.).

The 1031 exchange is a a very powerful tool that can be used in a diverse number of ways to leverage your real estate investing career.  

Except for plumbing, electrical, lumber and drywall.