These are critters where boat slips or racks in a boat storage facility have been condominiumized with tax deeds.  

.  ;-)  Since it is condo, the association PROBABLY pays for the roof and a lot of the other stuff.  

UPDATE: When I first went there the roof was covered in snow.

The building has a metal roof but it needs to be replaced.

Ideally you would find a company that has everything under one roof.

Pretty nice house in a good neighborhood right behind and down the street from the high school also there's a house being built right next door.House is in pretty good condition new roof less then 3 years old and the foundations good.

Say the roof starts leaking, or a faucet breaks etc, I don't want to have to fix a ceiling or be replacing little things, knowing good and well I plan on gutting the whole house very soon.

A single mailing is never sufficient so you need many repeat mailings which drive your expenses through the roof. 

I'll need someone to put down flooring and/or new counter-tops in kitchens, and possibly some roof repair, etc.

@Chris Tracy that was how I was doing it plus looking at comparable rents and looking at per unit cost.This property: Built 1982, shingle roofs 6 buildings, only amenity is a pool-Property is 75% newly renovated-It IS distressed as the vacancy was in the 20%+  range when I heard of the deal-a new management company has been in for 4 mos and has raised the tenancy to 88% currently-it is in a suburb of St.