I love it when they turn the 'cash for keys' into extortion.We do not repair appliances but we do specify that in the lease.

Appliance cost and such will be a fixed cost spread out over less sf.

The seller even through in the stainless steel appliances!

I think a lot depends on the age of the home and of the major systems and appliances.

Brand new roof, water heater, floors have been redone, new appliances in each unit, and it has been painted.

Made a 14k offer on a 20k HUD home a few weeks ago (this home was in good condition just needed appliances in the kitchen and could have been rented easily for $450 a month), but they never got back to me and now the property is under contract with someone else.  

Of course buildings must be depreciated over 27.5 years, but if I am understand things correctly appliances, furnishings, and sometimes?

Is there a forum section in which I can post about looking for affordable materials, appliances, flooring etc?

ARV between $425K and $440K, depending on finishes and appliance selection.  

Cap EX and Repairs look too low, IMO, on a lower priced place unless there is a new roof, new appliances, new HVAC, new water heater, etc.