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.

.-- I agree with your post, except this part. 

Except maybe to update the water heater just to make sure that they wont break down shortly after a tenant moves in. 

Records aren't always perfect, so you can except some returned mail. 

Hi Steve, I know the thread is a little old but I'm in a very similar situation to your example above except that I am also putting money into the deal...

Would not recommend for selling except in certain circumstances.

For example, do you need a license to lend money secured by real property in California (answer, yes, with some exceptions).  

Hi all, I was looking at a $80k house that's in OK shape except for a hole in the one of the ceiling and an odd small patch of mold in a damp spot in the basement stairwell, not a from a leaky pipe in a ceiling.

And views by and large are not important its more where your at on the golf Course.. then the older area of PS.. from what I saw there .. view properties are limited except Hope's big house.

I am not sure why Escrow said he cannot be owner and Beneficiary, except they may never have seen it thus far.Randy and I will be doing all our deals together, so we feel it is best to figure this out and get whatever Lending doc we need drawn up as template so we can secure him as the lien holder on any deal.I really am curious and will research more as to if/why or why not he can/cannot be a owner/lien holder on DOT.Will keep you posted on results - remembering we are in WA, so we will see.