Just make sure you get title insurance from a bigger company that won't vanish into thin air, and pay a little more and get it for the ARV value it will be once you fix it up.

My name is Aaron Webb and I am an officer in the US Air Force.  

I do find though, that after I've trained my eyes to rehab, and also have pricing from actual rehabbers (not just out of thin air), I don't need to bring a rehabber through...unless I see something I need them to see too.Joe VilleneuveREcapSystemA2REIC

Is this an air conditioning box?

Clean air-conditioning unit.?

It has forced air gas heat. 

I have walked in to one property in the middle of winter here I believe the high was around 20 degrees that day, and apparently  the owner told the tenants he was installing a new package unit prior to the foreclosure, and pulled off the unit leaving the giant opening to the outside where the cold air was running through the duct work through the entire house.  

This would imply from about $22k to $27K in annual net income before any financing. w/ a 7% cap rate (picked out of thin air, go ahead and pick and calculated your own..), this would support a total cost of about $320-$380K, or $160-$190/sq ft.

I was able to run flexible duct in a small attic space in one of my duplexes to get forced air heat and central air installed. 

I am a IICRC certified mold remediator and my best advice is air samples outside, in crawl space and main living area.