Instead, start networking with note investors and see if they are willing to dump some non-performing notes to you at a discount. 

Has anyone used the FCI Exchange site to buy performing or non-performing notes?

They want the problem fixed, the tenant to be happy and you to be happy / still paying them.Here is the CO of warrant of habitability -- https://www.colorado.gov/pacific/sites/default/fil...

Great that you joined the site!

This is an amazing site and it's fantastic for exchanging ideas.Andrea

If you cannot recoupe the money put into property through the cash flow in 5 years or less or by refiancing after work performed it would be to risky of an investment for myself. 

Buying a non-performing asset (an asset that generates no income), that I am only going to sleep in that sells for 6, 8 or 10 times the average income in a particular area, is not something I thought was a good "investment" in 2006, nor do I think it is today. 

"Pet rent" is a little more grey - the Residential Tenancies Act does appear to preclude such additional rent amounts, but the practice is widespread and, thus-far, the authorities appear to tolerate it.We only allow pets in select buildings: either ones where we have inherited pets and have yet to perform any substantial retrofit or where the building was renovated with pets in-mind.

The costs of concrete, site work, utilities, permits, licensed tradespeople, heating systems, button-up, garages/decks, etc will blow you away.

Your property could become a super-fund site right along with the gas station.To me, #1 is a minor factor, if a factor at all.