Both of these properties are 6 to 10 unit multifamily buildings, located what was a very rough part of LA that is improving, and has lots of investor activity.

There were all zeros in the column for "improvements", "fixtures", "household personal property" and "business personal property". 

Or if the larger deal you are buying has enough meat on the bone from a value add standpoint, you can force the apprecation by stabilizing expenses, pushing rents after performing improvements, and then refinance your new deal and pay off the hard money loans on your condos. 

You could also look for a home that needs some work, make improvements to improve equity and take out a HELOC to fund the next deal. 

Super minor, but...was disappointed that the students had removed every single smoke detector battery.

Thanks for helping further  improve the neighborhood! 

All expensive devices should be plugged into a surge protector and not directly into the ungrounded outlets to prevent damage.Recommend installing a battery backup system on the sump pump to prevent shutdowns during power outages.Roof is towards EOL which means I am looking at high CapEx in near future (less than 5 years).

Virtually all mobile home park deals are for the land and improvements, and moms and pops always seem to include a few park-owned homes, as well.

New Owners will have to clean it up but it will improve their ROI when they get a new renter in at market rate.

Under this system, everyone wants the improvements and repairs made ASAP so that they can get the highest amount out of their own condo because you can advertise it as having a new roof, etc.Also, it's better to have a condo with a property management company, even though in theory this might be more expensive, because being willing to run for the condo board does not equal being a competent property manager.