Other examples are fire damaged homes, code violations, recently inherited properties when they live out of state.

Meanwhile, when I looked up the code he quoted, I see nothing about having to have an owner's meter, just that the circuits from the tenants' meters must not supply common areas.  

https://www.municode.com/library/oh/cincinnati/codes/code_of_ordinances?

However, we are having a few issues with the framing as this house must have added some later additions (like the kitchen) without following code.

@Michael Donatucci The bathroom is probably worth it, the basement not so much.What zip code is this?

Our best performing prospect groups are tax foreclosures, evictions, code violators, and bankruptcy. 

The home is located in zip code 00956. 

I only take Zillow with a grain of salt but according to Zillow, the prices in that zip code are 54% below the median home prices and that the number of foreclosure will most likely drive the prices down in the upcoming year.

I also found out that the zip code for state college is 16803 and 16802. 

Download one from here [PDF] http://www.hrdc.org/html/HRFC/HRFC_documents/Personal_Financial_Statement.pdf