The very first day we went binding I got an inspector out there and this is what he found:- A questionable foundation (recommended a structural engineer check out because soil has been dug out around support pillars)- Plumbing issues (multiple leaks and some cast iron pipes)- Recommend a termite letter due to visible signs of wood damage in a small area- HVAC nearing end of life- Some mold present in crawl space- Electrical: none of the outlets are groundedThis is not an all inclusive list, just the more big ticketed items.

I did my initial walk through and noticed a concrete (poured or block, not sure w/o disecting further) wall in one of the lower units .that leans out at the top considerably,(4-6inches) , structural engineer says its structurally safe and the wall is out of plumb.

Write down what you want and reverse engineer that plan and see if buying this property is going to take you there, if it’s your MINS 👍

There are closing costs, demo costs, tax and insurance costs and professional fees, like engineers and architects.Thanks

Also consider engineered wood over vinyl....vinyl is just so, well, cheap looking, I hate it, even for a rental..... 

Consider this: as an engineering firm we help you evaluate before the purchase this question... can it be removed off the FEMA Flood Map?   

Or reverse engineer to see what % of ARV minus repairs they are buying atBack out your fee, and offer there

The ARV stabilized value is $3.35 millionI paid out of pocket for the land and Design/engineering after LTC my loan will be $2.34 millionit is 15 units at on average $1400 per unit. 

It still goes through the structural engineering approval process.Thanks for the help.

I have been working with an engineer for a few months to subdivide the property but the process is being very slow.