The term unoccupied means that the property has been left in a state where the property still contains all items and possessions as if the owners were to return at any time.Move items into the house. 

Below is a hypothetical screen shot of various line items in a typical NOI calculation.

Some thoughts:Your lease should cover items such as this. 

If the numbers work to my business model, that’s good enough for me.

There are still several potential plays on these greystones, but again they're not just sitting out there for the taking (and they might not fit your investment model) 1.

The rate I think is a lot higher and you will have PMI, which is like insurance that she will have to pay because she has less than 20%.So the only pro is that you don't have to bring a lot of money but that might outweigh the cons I posted if the property is in liveable condition and has all the normal items people will assume to have when buying, like flooring, appliances. 

They have a sorting station where you can drop specific items such as electronics, paint, oil, mattresses, and tires.

Speaking as someone that underwrote hundreds of apartment acquisitions in a rent controlled environment, the entire business model was built around vacancy decontrol.

Or was this just a poor structured bussiness model they were not prepared for?

I understand the overall red tape challenges (starting to dig at the local and state levels to better understand the nuisance of the codes), my question really is modeling the cost model and projecting returns so I can develop investment material to find funding.