Most lenders will require the property to be vacant at closing.We work with some rehabbers who are completely fearless, and able to deal with a range of distressed properties from severe foundation issues to areas you'd never go to after dark.

If I don't sell it for close to the median range, I'm going to rent it and think I can get at least $700-$900 a month for it.  

Some have more stringent geographic restrictions than others.In general, lenders base the interest rate and loan amount to the Value Ratio on the particulars of the individual deal, with interest rates currently in the 12-14% range and 3 to 5 discount points for seasoned borrowers.Inexperienced borrowers will possibly pay more.

I'd like to poll the BP community about what you're doing or seeing for in house property management of smaller to midsize apartment communities, think in the 15-75 unit range.  

If you want to work with a wide variety of people then @Michael Jobe has given some good suggestions.

A look at cap rate and gross rent multiplier to see which is the better way to estimate rental property value and measure financial performance...Financial Leverage Financial leverage explained and how it can impact a real estate investor's returns and profitability...How Financial Leverage Impacts Real Estate Investors The impact positive leverage, neutral leverage and negative leverage have on the yield a real estate investor collects as a result of financial leverage...IRR, MIRR and FMRR The formulations for internal rate of return, modified internal rate of return, and financial management rate of return...Scenario Analysis The scenario analysis is explained so you know how to use it to benefit your next investment real estate evaluation...Sensitivity Analysis Changing one variable at a time over a possible range of outcomes in order to evaluate the effect of that change...ReportsThe Comparative Market Analysis How to correctly create a comparative market analysis that you can use to effectively estimate rental property value...The Proforma Income Statement Learn the what, why, and how about the proforma income statement and it's popularity with real estate investors...Why Real Estate Investors Like The APOD Discover why the APOD is used by real estate investors to examine the annual property operating data of potential real estate investment properties... or watch the video.General4 Contingencies Your Offer to Purchase Rental Property Should Include Contingency clauses common to commercial and residential income property that protect investors who submit an offer to purchase investment real estate...Are You Profiting from Your Property's Highest and Best Use?

(Nearby condos are in the $400-800k range, but condos aren't really "comps" so I'm not counting those.) - There's an unfinished second floor that is currently considered "attic" space.

Yes, these deals were at the top end of the range, but there are many to be had with an easy 40k plus profit, even allowing for a worst case rehab.As this section is called 'creative financing', I was wondering if anyone had some thoughts as to a potential way around the problem?

Retail strip centers, Office / Medical buildings,  Restaurant buildings, Gas stations,  industrial office.Of course, the Cap Rate  ( income % ) is an important factor for me.So, some thoughts on Las Vegas investments in the $1.5M-$3M range ?

single or double wide..My exit would be to sell the homes to all the owners and hold the notes till paid off.  10-15 yrs of monthly income is great.