Don't forget to bake in the cost of utility connections and meters (water, sewer, gas, electric) as well as permits.

Shortly after a hurricane had some minor damage to some other units (the condos were built in the 80's), the condo HOA voted to become a 55+ community.

I would pick a handful of this investors properties with the newest roof, hvac, water heater and then have the investor refinance 40% of the home's current value to a bank lendor. 

The damage deposits were large compared to what an apartment would charge post-college. 

Collecting a damage deposit is a core task of a PM that you pay for and they either failed to do it, or failed to properly record it... either way, unacceptable.   

What about HVAC systems, water heater, roof, siding, electric, windows, etc.? 

Muddies the water.

I had a client recently buy a 2 unit in Albany Park + unzoned attic and then were able to legalize the attic on zoning doc from an old water bill ended up being a huge value add likely over six figures added now being a legal 3 unit. 

Useful in that we can discuss here what is and what is not going on.The health warning at the bottom of the first page contains the following.THE COMPANY IS “TESTING THE WATERS” UNDER REGULATION A UNDER THE SECURITIES ACT OF 1933 FOR OFFERINGS OF OUR BITS THAT HAVE NOT YET BEEN QUALIFIED BY THE SECURITIES AND EXCHANGE COMMISSION (SEC) RELATED TO CERTAIN PROPERTIES.

How do I know how serious the foundation damage is?