an example is a $20,000 ARV house with light rehab of $20,000Wholesaling offer won't work because the seller makes not enough money $115k netThe JV works better for the sellerStructure first mortgage at $148,000Second mortgage would be $20,000 rehab mortgage10% for sales cost of $20,000You net $10,000 as a JV fee @Matt Powell

I’ve asked around locally as well, and for High end apartments I’ve received a few quick estimates of about $100,000 for the units (appliances, cabinets, floors, walls, ceilings, and lighting) plus ‘as Karen mentioned’ the Electrical, plumbing HVAC and such.

$10k is probably a little light to get a deal done successfully in your situation.  

This is the reason pilot lights are less common now, so you don't run the risk of leaks from a blown out pilot that used to occur years ago.

In light of the nature if the issues, you should be able to convince the current custodian to release your account without any termination fees, since they clearly are incapable.  

I got the green light from the local commercial bank this morning and will hopefully be making an offer next week after another run-through a property with a contractor friend and mentor.Sandy, thanks for the invite to the RE group meetup.

We finally met at the closing table.The hosts and hostesses of REIAs are a wealth of knowledge and experience but there's some in the room who may be even light years ahead of them.

We rebuilt fence partitions, installed new LED lighting, new sidewalks and gutters and installed a community firepit.  

I would love to meet others in the area who are experienced and can shed some light on the process, tips, advice etc.

 @Dave FeltsYour post has shed so much light on my search for the best areas.