If the area is good the other items can be fixed.If the area is bad it doesn't matter what you do.You could make it the nicest building in a bad area and the tenant calls you get from the pictures once they see the area and other buildings they won't rent from you.Then you are left with the type of tenants living there now.Also is to check on how big of a loan balance is on this property.This landlord might have tons of deferred costs because the debt service is taking all of the cash flow.They can't evict the current tenants because they have no money to rehab the units.You also need to know the eviction process for the area.Even if you get a writ the marshals office could have hundreds to serve that month and a 4 day process takes 6 weeks for them to come out.Even if you account for lost rent when buying to evict these tenants you will not know what kind of damage they will do before you get them out.John do not believe the seller or the brokers agent.This might be a deal but only at the right price.The seller cannot command a premium and dump of problems at the same time (unless the buyer is a sucker or a first time purchaser which sadly sellers hope for).

I didn't see the need for another RE agent to market my property.. all I needed was MLS exposure and I could handle the rest.

But I don't think there are any laws anywhere that say a seller can't try to influence an appraisal.Of course, I could be wrong...but I'd love to see the regulation if it exists somewhere...

But that is what it looks like in the photo and can't see the ceiling.Old houses used tar paper as a vapor barrier and can be changed out, maybe during an electrical update.

I have bid on some lower end REO's, but haven't bought any.But, for a fix/flip I don't see the 90 days as much of an issue.

The IRS has specifically ruled that shearing and basal pruning costs are deductible business expenses (see the summary of Revenue Ruling 71-228, page 139).

If people need to see the inside, then you aren't really wholesaling properties.

There are legal issues with these arrangements and generally are not viewed as a business strategy and you may be limited by zonning issues and local ordinaces.I'd suggest you do more reading here and see the issues involved with landlording and property ownership.

We expect our borrowers to shop around otherwise we are not really dealing with good RE investors.As lenders we must know the difference between quoting and processing, sometimes its a fine line but we must see the difference.

I can understand that crowdfunding sites are wary of this, but in all honesty, as long as you provide all the information upfront, I really don't see the issue.