Also one of the cities requires a license and inspection annually, so that is something to look at as well. 

Then, if the inspection uncovers an unknown, you can back out or renegotiate.

We were able to negotiate the price down $10K after the inspection because the property was in a little worse condition than we thought going into it.

I went and inspected the now mostly vacation building and was pretty impressed with it's condition especially considering its new status as condemned.

also I see Home inspection course is around $5k, so just wondering if somebody knows if I have some cheaper alternate?

Full 203k: 35k or more, structural work allowed, more paperwork, requires HUD consultant, Reno money is paid in draws and the repairs are inspected by the bank prior to disbursing monies for next phase of reno.

Full 203k: 35k or more, structural work allowed, more paperwork, requires HUD consultant, Reno money is paid in draws and the repairs are inspected by the bank prior to disbursing monies for next phase of reno.

I'd keep an eye on them if they do move in and do inspections every 3-4 months.  

I make analysis videos.....Folks can pick how many properties they'd like me to analyze and buy the appropriate package. 1 property, 3 pack, 4 pack, 10 packs etc...Price varies based upon how large of a package they buy but generally speaking we are around the price of a general home inspection. 

Then getting it up to code and passing all the inspections could take time.