I would estimate 1.1 or 1.2% of selling price, the owner will have bought it many years ago and it has been frozen with just tiny increases per year.

You cannot increase their rent more than the allowable amount (frozen right now due to Covid, but usually 2-4% annually)  They cannot be evicted. 

Being a 1st position Heloc, they aren't the concerns about lines being pulled or frozen during a down market. 

Utilities get shut off, cars get repossessed, credit cards are frozen as late fees rack up. 

A critical aspect of management of anything from a frozen banana stand to a region of big box retailers is reporting to those you’re managing for.

Loan payments for mortgage, car payment and student loans were all frozen - even if you had no drop in income. 

Hi Tom,You need to know what sells for what in that area of town.If you are keeping the property as a rental, then you need to know what rents for what in that area of town.For instance a 30 year old SFH frozen in time 30 years ago will probably rent for less than one upgraded to a modern look.And then spend your money carefully, not going overboard on things that will not add much value (which could be different on different places or in different areas).Such as a dishwasher might be a good addition in place A but in place B no one cares much about it.Good Luck!

Maybe a clogged drain or a frozen over drain (???)

If they have frozen permits waiting on regulations and you don’t even know what regulations they are considering, you would be very foolish to purchase.

Not much time. keep in mind if credit gets tight the first thing to go is all these HELOC's investors use.. they can get frozen and in some cases called and the borrower is stuck ..