Hi BP community, I was wondering if anyone could advise me on how critical is it for a property to be inspected prior to closing that requires complete renovation regardless (the property is a complete shell and currently not even close to living condition).

Hello @Les Edwards,I hope you are well.I'm also in Perth (and also an Accountant).I'm happy to share with you what i have found so far and the people that i have connected ( who gave me great advise).The markets mentioned by @James Wise are great, you will notice that some will have higher entry price than others but then it will depend on your budget.Sure you will need a team and in regards to the loan, i would start preparing now (lodging past taxes and have those in order), then start establishing relationship with local banks.Do not rush, do the things on your own time so you know where you getting into.

If representing the Seller I would Never advise them to do a sub2 deal as there are severe risks for the seller....unless they were very desperate and facing immediate foreclosure, maybe. 

@Bjorn Ahlblad - I'm not sure of your particular situation but I would highly advise you to reconsider leasing space on your property for a tower. 

Please do advise me?? 

As @Jay Hinrichs advised, commercial leases are not like residential.

In those cases, we would advise them the current residents may decide to stay and we may have to cancel this. 

The vetted insurance brokers that I use have without hesitation and without giving an inch have advised that any short-term rental will require a commercial policy. 

Thanks for the advise. 

I'm not an attorney so I'd advise you speak with an investor friendly one but my two cents is that it would be wise for you to put the properties under contract first before assigning the contract...otherwise you would be birddogging