., guy had used 70feet of plumbing PVC as underground conduit from the pole that had to be removed & replaced at his expense after we discovered it & had the bldg inspector write it up.

I have great attorneys, lenders, inspectors, title company reps, etc because I bring them business! 

A better course would be talking directly with the code inspector & see if you can get some reasonable agreement.

I have been accumulating Indianapolis properties for a while now and am in the midst of buying over 30 as rentals for my investing partners and myself, and let me tell you, it is work to find the right deals, get them closed, do the repairs if necessary, and then find good tenants.I say all this to suggest you don't put yourself under the time constraint of 2-3 months if you are looking to do residential as that will just lead to some bad deals.

It was never done so the listing broker paid the inspector to de-winterize it and then re-winterize it after he had completed his inspection (to keep the ball rolling and met the close date).Well then the company that works for the asset manager came out and de-winterized it.

In Indianapolis I have been trying to stick with a 15% cap rate, so based on that and the 50% rule I would value this at $36,000 with no repairs.

With inspectors and trade pros on some of the visits.

You should also already have a large database of all-cash buyers looking for the specific property you have contracted.At this point, you then use your contract provisions of inspections to bring your home inspector (ALONG with your cash buyer) to view the interior.

With all the updates, I would just have a structural engineer or home inspector take a look, if you don't feel comfortable with the idea because of the age.

I am sure an inspector will write it up.Don