I've seen perfectly good mobile homes get sold for $3,000 with so much as just needing to shampoo the carpet, then rented out almost immediately for $650 per month and knew of one investor who's sole interest was to "flip" them as a 2 year lease option.  

Also don't forget cost of shower pans or poured floorsCarpet your about right, can get away with cheap carpet. 

Proactive is definitely the best... especially when you're risking collateral damage.From an investment perspective though... if you can extend the life of anything, you'll have huge savings... for example, I had carpets that were trashed, but I found tenants with dogs that didn't care because I waved the pet deposit... and I got another year of life out of the carpets.  

No major repairs needed maybe replace carpeting, but she just wants to breakeven really.

The carpet has been replaced. 

The condo is a great investment property, but the way they're are selling it seems messy. 

Here's the long and short of it went to look at a duplex tenants up stairs are petty dirty one cat one dog smoke they pay 500 a month could get 750 no trouble after rehab (paint carpet and clean up ex) they have 7 months left on there lease.

After only 3 days of tearing out carpet and junk we were approached by a neighbor of one of these homes with a request to purchase the property as-is.  

He used same carpet he uses in all of his own properties, recommended vinyl plank flooring because that is what he uses etc. 

I think it could get real messy co-signing on a mortgage (if they let you), and writing a partnership agreement gets tricky when you have such lop-sided interests (or so my CPA told me last time I tried this).