I would want to discover the extent of the mold by cutting about 18 inches off the bottom of the drywall in any suspect areas and viewing the wall cavity.

If they do offer a similar program this may save you from jumping through many hoops that are typically required for the 203k but make sure you compare them both from top to bottom.   

in @William DurelI done auction investing extensively during the bottom of the last crash in NYC, 1992-1994, and at the time, there were wall to wall auctions, so I attend several a week, and even several a day sometimes.

To get a larger house on the water would yield a better nightly, but with at least doubling our purchase price which we weren't prepare to do.So, the bottom line is what do you think is very large?

The bottom line, is that there is no one gauge or tool and you must do your own research and "comps", using as many tools and techniques as possible, to get the most accurate actionable data. unless you have a trustworthy competent realtor/broker on your team, that is already doing that for you.I am not realtor or broker.

Condo's are also the bottom tier (IMO) tenants - unless you're talking about an upscale condo which will have an astronomical HOA (I just sold one for a non-investor where HOA was $750/mo). 

Appliances should be making you some return.If they aren’t and your doing it from the bottom of your heart and you think you got a good deal, then don’t do it dipping into your cash reserves

Just because a home is selling for a rock-bottom price doesn’t mean you can put money in it and automatically make a fortune.

The list goes:___ One Story___ Two Story___ Minimum Number of Bedrooms ______ Minimum Number of Bathrooms ______ Jacuzzi Tub___ Separate Shower___ Half Bath___ Garage for ___ Cars___ Carport___ Great Room___ Formal Living Room___ Formal Dining Room___ Upgraded Kitchen Appliances___ Granite or Upgraded Kitchen Countertops___ Breakfast Nook___ Storage/Closet Space___ Basement___ Bonus Room/Playroom___ Fireplace___ Hardwood Floors___ Inside Laundry Room___ Covered Porch___ Outside Deck___ Brick Exterior___ Siding Exterior___ Wood Exterior ___ Stucco Exterior___ Hardie Board Exterior___ Swimming Pool___ Fenced Yard___ Large Yard___ Landscaped Yard___ Natural Gas (water heater, kitchen, fireplace)___ Septic Tank___ Sewer System___ Waterfront Property___ Golf Course Property___ Located in ________ school zone(s)___ Close to public transportation___ Located within ___ miles from work___ Located within ___ miles from ___________ Located in a homeowners' associationThe grading scale for those items is: A = Mandatory, B = Neutral, C = No Desire, D = Deal BreakerI need expert opinions on this, so I came here. 

The properties I am local to, we have one with a property mgmt company that I am not thrilled with, but they offer a buffer between me and a tenant when the tenant breaks something that they should pay for but that they don't "think" they should have to, the mgmt company is a neutral third-party to act as a judge who should pay.