There is a serious moisture problem that needs to be fixed.

Avoid online auctions if you like to gamble, and can't resist putting in "just one more" bid.3.  

Are you sure it's in the carpet and not the paint also?

Here is another picture of the same property, sorry I couldn't resist. 

Find out the lead paint regulations in your area to see how it complies. 

Just to paint a picture when the owner rents a unit, he tells the tenant if anything breaks, its on them.The code violations include 45 tree with the top 15ft dead, sofa on driveway for 2 weeks plus, foliage overgrown at back of property. 

If you look at 8 houses, and you are reviewing all at the end of the day, you can tell where one ends and the next begins,  We also make sure not to take too many pictures. 8 max of only the high ticket items, roof, windows, kitchen, electric panel, kitchen, baths, furnace, ac, front and back, andything unusual,  i dont want a picture with a hole in drywall that will cost 25.00 to fix, no pictures of carpet of paint, or things we will replace in every house.... always a couple photos for perspective. 

Thanks to everyone for all the other advice regarding SPs v LLCs, insurance, paint, repairs, accounting etc etc.  

I doubt repairs are only 2,880 per door with 104 doors.Carpet and paint alone depending on unit sq ft size would eat up 2k a door.I haven't even gotten to  mechanicals or the exterior parking lot, roof, windows, water and sewer laterals, and  a host of other issues depending on when the property was built.You can have big rewards but huge losses if you do not have the experience.  

I would say it depends on just how "move-in ready" you are expecting.If someone is sitting on a property that is in relatively good repair overall, with the exception of some paint, flooring, and minor kitchen updates (countertop replacement/cabinet refinishing) for example, as a result of inheritance or a property that may be more of an afterthought for whatever reason, then perhaps through direct mail you may uncover a handful of decent leads/deals whose owners haven't necessarily yet put the wheels in motion to get rid of a property that they may consider selling once they are given a slight nudge.