It's a good location and solid structure in a city with high demand, but the interiors were treated poorly pre-foreclosure so will need a major overhaul.

I guess the only plus side IF I have to replace the unit is, it will be mostly major-maintenance free for awhile.

How do I go about contacting the bank real estate department (navy federal) to purchase the property for a discount?

Yes, turn the water off, but after you turn the water off, turn on a faucet to clear out the water already in the pipes.Also, when new tenants move in, I make sure to show them where the house's main shut off valve is in case there is ever a major leak.

However some people might only want to work in one or the other so you might need to build somewhat separate lists for both.That really shouldn't be a major drawback.

If they had major health risks or were uninhabitable there would be a problem getting financing.

South Florida, we really rock in that department!

I have seen some condo owners with lower COA fees get hit with major assessments they weren't expecting (think $8k for a roof, $2k for painting, $3k for elevators, $2k for paving, etc).

I currently hold a part-time supervisor position at UPS in their finance department on second shift.

*The * is that the rule doesn't apply to some markets like much of California or most major metropolitan areas.