@Dick Stevens I am at the very beginning stages of the study ( This isn't my usual gig but the co-founders are friends of mine ).

the terms of the leases in place will dictate what you can and can't do.Chances are there is only 1 water meter, and splitting it 3 ways is usually the beginning of tenant-tenant conflicts.You could probably give somebody a rent credit to take care of the lawn, but if the lawn is generally used as a common area for all tenants, the landlord usually covers that cost.You could always change lease terms when the leases expire - but as a rule, the leases stay with the tenants who are in the property even when a property is sold.

@Justin Seng  If you're putting 20% down or more, you usually have the option to decide whether or not you want the account. 

#2 is not in your favor-you are very correct.But as usual. ...depends on your deal.

@Sam Grooms we usually include a certain percentage for construction contingencies for these kinds of situations, but that’s certainly a case by case basis based on the severity of the repairs.

I know adjusters want to see the damage and are usually quick to make arrangements to view the damage.

the spread was usually 10% or so..But for sure if a deal is stressed because 6% money only works and 7 or 8% money throws it out then those are some really tight spreads to be working with.. and one would not want to be signing up for 3 to 5 year call notes. 

We usually sell them within a month or two.

@Seth Deitchman Those are great goals:  Through Tax deed auctions you can certainly attain a profitable portfolio of flips/rentals if your Purchase Price is low enough to account for the rehab usually associated with Tax Deeds (as well as the other factors of course: neighborhood, market, etc). 

You will usually be required to put 25% as a Down payment.