We are adding lots of interesting features to our landscaping including a dry river bed, sitting area, and pavers.

Asking price $36,900 + repairs $14,000 = $51K1) Repair all roof leaks $ 475.002) Replace all rotted fascia and soffit $ 325.003) Prep all previously painted exterior surfaces and seal gaps between to materials.

Depending on the age of the building these could range from dryrot, pest infestation and mold to serious structural defects, plumbing and wiring issues.

Plus, I got tired of Uncle Sam bleeding me dry every tax year.  

Knob and tube wiring or worse, amateur hybrid wiring, galvanized supply lines, non functioning windows, pealing lead paint and rotted exteriors.

Jobs dried up and people were out of work.  

FHA has some requirements for condition, but they are basics like the roof being in decent shape, no wood rot, no "health and safety hazards", components up to code,etc. but they don't require every little nit picky thing a home inspector may want to come up with.  

Bought a tax lien down here in Houston only to find out the whole foundation was rotted out.

The door has a 6" gap at the top to help it dry out, but I find that just isn't enough.

This protects lenders from having a borrower run the Property dry without keeping it up which is especially bad for a lender if they have to foreclose.