Dont freak out about mold, just get rid of the moisture.

If it still seems like there are excessive repairs, then for non-emergency items, you could take the time to visit the property and go with the repair person to visibly inspect the problem and walk through the repair process with them.

It will involve a lot of drama, complaints from neighbors, excess wear-and-tear on the property, and more.

Seems to me they want to discourage development through excessive fees.

For me this implies I require far in excess of 10% projected return (ideally ~20%) to consider RE purchase when factoring in effort/risk. 

Normally that would not be likely but banks are struggling right now to stay a float with tighter asset and financial requirements.Cash is king and having cash in hand and not in the form of a second lien position or excessive tradelines as a debt goes a long way in your underwriting approval.You are right, now is the time to borrow against a primary and buy more real estate. 

Excessive?

The power of leverage is amazing as long as it isnt done in excess. 

OPPORTUNITY, there is currently a flood of foreign money being pumped into the country creating excessive appreciation. 

@Steve A SpannIf there are any excess proceeds, they should go to the original owner.