: yesHVAC System Duct: Damaged ac functional at hpirfurnace tested functional at hpir _____________________Electrical Wiring: ok--Other: damaged --Other: damaged Electric supply tested and functional?

Also, what happens when the tenants tell you some of their stuff is missing/damaged after the airbnb event is over?

Lots of sand and jerks dressed in black making ugly Youtube videos out here. 

On the flip side, students want these houses to throw parties at, so one would have to account for a lot of potential damages and liabilities.

Divorces, probates, bankruptcies, fire damages, etc.?

See Vacant Building Ordinance and registration form at https://ipiweb.cityofchicago.org/VBRCN196039Post, on abandoned building, name, address and telephone of owner and owner's agent for managing, controlling or collecting rents on building so legible from nearest public street or sidewalk. (13-12-125)...but sometimes I see also a yellow sticker on the building. the building does not have a red cross on it. is the yellow sticker indicative of some major damage such as flood, extensive fire damage or structural damage ?

That way any water spilled in the kitchen wont damage the floors. 

@Andrew Davis  I would look at the reasons its in the condition its in.. many make the statement the previous owner let it go to pot.. that's an easy one... what I have seen if this is C or D class is that they can be almost impossible to keep up and keep rented.. turn over and damage kills the property and you end up in the same boat as the seller is sitting in right now..

Yes, you can probably reduce cost of sales and perhaps other numbers but you cannot significantly reduce rehab costs and there will always be surprises which will burn you if you do not have sufficient funds set aside.Flip considerations• Typically, lenders will only finance properties that are already livable so financing damaged properties can be a challenge.

After investigating we found damage or missing downspout extensions.