A lot of international people from Asia and Europe, who had money, would pay the whole year up front, to get the place they desired.

I am unsure on the interior condition of these units, but there is likely the ability to update and build equity.

There's HML's who do two tiered lending - initially to purchase and rehab for 6-12 month terms (10-12% interest) and then refi it internally into a long term product (6-8% interest).

I'm looking at a property that has sunken floor in the middle of the house to the point where it has separated from the interior walls.

I’m factoring about $.50 per foot of interior floor space which equals $616.

You have to consider paint(exterior and interior) hot water heater, minor kitchen remodel, bathroom remodel, gutters, etc.

Title report, finding photos of interior, recently pulled permits, etc. 

And how does the interior look such as cabinets, floors, countertops.

Also, while you may not purchase a co-insured policy, most all policies have an internal co-insurance clause, requiring you to carry proper coverage amounts, or be penalized at the "option" of the carrier.

We are rehabbing a 2 bed/1bath condo in Jersey City, NJ and we're currently interviewing interior designers for the project.