Let me know if you would like to see the numbers.

I guess some people see the value and some don't.. or I am crazy.. but I think to be able to nail down a reduced property ( it should only grow in value )  if it would be worth $200,000 rehabbed and I could get it for $100,000.. wouldn't I be crazy not to??

I see the big companies like Lamar and Outfront etc..

Yes, I did see the multiple posts on BP about not going with property when purchase price is higher than assessed price. 

Please post a picture so we can see the issue.

@Dale Wood only see the very best properties in person, your realtor will thank you if you don't request to see the inside of a property that you know you will probably not offer on.

As you can see the new loan amount would not be enough to payoff the original $75,000 loan.  

It may be cheaper than a professional inspection and I am not a big carpet fan, so you get that out anyway (especially if near end of useful life) and get to see the sub-floor, investigate thoroughly, and treat it if necessary (bleach/water, Mildicide, etc), and explore if there is a source (leak) or not, or if it was tenant negligence....Then you could go from there and call in professional help if needed and explore who should bear the costs, if any.I agree, there is some risk of rewarding the behavior (the complaint, by giving a new floor), but you mitigate it some by making the tenant remove all items from the room and endure some inconvenience.

I can see how in your situation, this "protection" isn't fair to you  If you have a closed mindset and can't see the other side of coin, then we can just leave it at that, I'm sorry you are dealing with a slum lord that makes everyone in my profession look bad and I hate it. 

But I see the area shifting and I believe slowly it will improve.