[[[[[.........When you see landlords that will not accept sec 8, most times its because it won't pass and they don't want to fix it up. ....]]]]]Please site your source for that statistic.I don't take Section 8 because I don't do leases, and Section 8 doesn't accept month to month agreements.Not to mention, I have yet to meet any Section 8 tenant who can meet my written rental criteria.The landlords I know who don't take Section 8 have nice places and they don't take Section 8 because the welfare tenants will trash a place and they are difficult and demanding to deal with.My places are in tip top condition and I respond to any repair call in less than 24 hours.Although, I have to confess, one of my houses can't pass Section 8 inspection because there is a centuries old tree too close to the house, and I refuse to cut it down.Another house wouldn't pass because the railings on the giant deck aren't close enough together and Section 8 doesn't want their little rug rats to fall almost 2 feet to the ground and maybe get hurt.

When you take back a property, how do you record the condition of the unit?

Needs very little minor work to get it to renting condition.

I have a "battlefield" condition (see pic) Colt Army that my father found while bottle digging at Ruby Ranch (Inskip Station) back in the sixties.

It depends on the market conditions in your area.

If the property is in poor condition, you may have to get empty house or builder's risk insurance to cover the time you're rehabbing it.

Conditionally Refundable Option Consideration Monies is the way to go, especially with the Attorney General in many States going after "Equity Skimmers" and the like.And, the exercise price can be tied to a formula, such as an either-or: [i]The purchase price shall be EITHER the average of 2 certified appraisals who must be a member in good standing of the American Society of Appraisers OR $xxx.xxxx, which ever is higher.

Then I contend with the apartment condition.

The one thing I have learned about real estate is you can make money in a good market and bad, One simply has to adjust to current conditions, I'll admit sometimes that's easier said than done.

The following scenario is beginning to play out: I contacted a few rehabber guys from the newspaper who had ads like: we buy houses any condition cash!