Then once it’s yours, you do minor repairs and clean up, market it and resell it as-is.

Then, rate the amount of rehab to be done, from "clean & paint" to "move walls & rebuild".

And in the area I'm looking at, some students will pay a premium to live in an off-campus house that is clean, modern, safe, and with other like-minded students. 

If you bring me shopped around crap, you will be blackballed.I am looking for clean paper with Allonge intact, and borrowers whom are looking to loan mod and are eager to work with the lender.  . . .then you have my attention!

I would only rent to Military, Doctors, and business professionals.People with security clearances and clean backgrounds.

But, we can either keep the property as a rental to cash flow or clean it and turn around and list it for $210K+.

Oh, that and a clean report on criminal check.

And, both Altadena and Long Beach seem to be cleaning up their rougher neighborhoods day-by-day. 

And I cleaned ZERO toilets. 

Cover any repairs, cleaning, etc as well as any days/weeks vacancy between the two and go from there.