My wife and I saw a 5BD 3 bath home in our HOA that they are selling relatively cheap.

During negotiations I will be sure to highlight how cheap rehab will be.  

@Sherwin Gonzales I'm assuming that EDD means Estimated Delivery Date?  

Thank you so much , I'm considering staying away from mortgages right now I'm from Philadelphia where property is fairly cheap, fixer uppers I mean

Either the buyers are extra picky about the locations of the property they prefer to buy or the price is not dirt cheap enough.

I was thinking mailing the letter of notice with next date delivery with a signature required. 

We need sale prices over 200/ft to make a deal attractive, simply because desirable land isn't cheap and the cost of construction dictates a certain spread.

Don't go with cheap paint. 

In the years following the foreclosure crisis, Wall Street drove a rise in the share of homes purchased by landlords, as private equity firms bought thousands of cheap homes.

Reason being:  1) cheap price.  2)  Small footprint, the rehab wasn't overwhelming.  3) The drive that we had to make each week gave me the opportunity to listen to over 12 hours of BP podcasts!