There could be reason behind this, but on surface, this is low.As noted above, severely negative leverageNo stated pref, so I am assuming the 80/20 split happens right awayProjected returns are okay.  

Mold that has been there awhile smells and discolors the surface. 

Hard surface is the only way to go!

As such, the only "deals" typically require extensive renovation, because anything that is purely surface level retail buyers will likely outbid you.  

I would get ALL the ceiling surfaces one shade of white, no matter how much trim or architectural features, and ALL the walls one color, regardless of chair rail.

Based on that we made choices like going with laminate countertops instead of solid surface, etc.Having said all that, your realtor should be going to bat for you on the appraisal unless the home is simply way over improved for the area.  

Always factor in that you will likely have to do some new stormwater drainage systems and new underground utilities.

I have just started to scratch the surface of real estate investing and I'm glad there is a place where I can go for answers.

Looking at a property which is bank-owned with obvious bowed basement wall and drainage problems.  

Building information C location Built in 2010600/ month tenant pays all utilities (4 currently rented)Purchase price 290000Taxes 3332Trash 172Damage (water damage from top unit to bottom unit, wood floors need to be replaced as a result, 1 unit has lots of cigarette burns on some surfaces, etc) nothing major but definitely not what was seen in the unit that was shown before we were under contract.How do I proceed