They will cut you a check for $126k so you can pay off other debts you might have associated with the property.  

When we get the to the river we are at the edge of about a 200 foot steep mountain we have to go down and it is treacherous.

Can the health and safety of this duplex meet VA - water heaters strapped, no leaking plumbing, roof great? 

Then the audio was cut.

Properties are declared condemned for safety reasons.

I agree, ensuring safety and limiting liability is a primary concern.

From a lending prospective reserves are a safety net.

.- she cash-out refis and we invest together on something- she adds me to the title, seasons for 6-months, I cash out refi and invest- she sells to me under market so I have a safety net of equity in the property, the $600/ pays the note and we use the money on the sale to invest- she sells and we move on to something else (but uncle lives next door and uses the property for storage, so has talked her into not selling at the moment)$120k cash is silly sitting there generating $600/month... 

Ponies and kittens won't cut it.

Overall, we had to put on a new roof, extensive landscaping, "60 years of growth never cut", new decking, new fencing, completely remodeled kitchen, updated fixtures and lighting, paint, electrical upgrades, and drywall repairs.