In your offer to the bank I would include a contractors estimate of repairs.This lets the bank know that while your offer is low, if they want a good price they need to fix something before its sold.Several of my short sales where done this way, the first counter was high and when I asked the bank if they looked at the enclosed estimate of repairs they came back and approved the sale.

The option payment basically covered either the repairs or the holding costs, but not both.

You would be entitled to all the ordinary and necessary expenditures related to the rental, such as repairs, insurance, property taxes, maintenance, etc.

I will be managing the properties and can handle all but major mechanical repairs.

Repair roads and maintain adequate street lighting.

You said it will appraise- so offer 278 with $8k credit(3%)for closing cost and cosmetic repairs to help get in.

The property currently needs a roof repair that has been quoted at 5000-7600 and the current list price is 174000 and rental rates are right around 1700-1800.

If you buy a condo, make sure you get to see the association meeting meinutes and budget, so you can know what;s been going on - Do they have decent reserves in case of emergency repairs, like to the roof or siding?

-does the house need any repairs?

These services that I would explore would be: •Foreclosure Cleaning/MaintoRubbishoGarbage RemovaloCarpetoFlooringoElectricaloPlumbing(Internal/External)oRoofingoAppliances-(Ceiling Fans)oPaint oWallsoCeilingsoDoors oWindows oScreens•Maintenance oYard-LandscapeoRubbishoGarbage RemovaloPruningoSecurity(Securing AC Units)oFence RepairoSupport Foundation Repair(Carport Supports)Thanks !!!!