Doesn't deter investors.Interest rates hit highs of 18%-19% in the late 70's and early 80's.

I would remodel this to a high standard with really nice finishes to attract better tenants.I am buying it sight unseen and I am a little hesitant about the area.It's on NW 45th St, Miami.The purchase price per square foot is a mere $65, which is well below the current market average, even for the area.Are there any Miami locals who could chirp in with their opinion on this one?

I am a finish carpenter and know finish carpentry prices.

And am currently in the process of finishing/liquidating my current projects to start investing out of state again.

heeeey now..let me first finish and sell them ball busters before you congratulate me!

So I will have to invest about $1,500-$2,000 to finish furnishing the entire place. 

They have been in business since the late 70s and have never had any regulatory issues.

We would like to move in, make the repairs while renting, and in a few months, reapply for a loan (with no rehab portion needed due to home in better shape) and finish this process we've started. 

If I see a bump in the road, meaning a 6-12 month period where all the late payments/judgement/collections occurred, and since then the report has been good I will rent to them. 

If its little late for coffee then we can check out OTBX!