I do agree, however, that if you can remedy this, you could potentially add value to the property (lower expenses means higher NOI means higher value at same market CAP rate).However, one thing to keep in mind: You can not expect to get the same rents once you transfer the utility expense to the tenants.

You'll have to give notice to cure to get them to be sure they remedy the damage.

Effective Date: 11-25-1969 5313.08 Action for forfeiture and restitution.If the contract has been in effect for less than five years, in addition to any other remedies provided by law and after the expiration of the periods prescribed by sections 5313.05 and 5313.06 of the Revised Code, if the vendee is still in default of any payment the vendor may bring an action for forfeiture of the vendee's rights in the land installment contract and for restitution of his property under Chapter 1923. of the Revised Code.

The hardest item to overcome though is pollution and toxic waste remediation.

Find a small remediation company to do the demo and mold remediation only and they will do it for you at a fraction of what they would charge insurance companies.

As a result, you have no real remedies.

Some people think doctors are evil and tumors melt away with herbal drinks in the vitamix, and that we somehow are trying to BS people and the internet knows better, haha.

Here's a great example: if the original mortgagee was required to comply with TILA, but didn't fully comply, the consumer's remedy is rescission (cancelling the loan) plus attorney's fees. 

., "Pursuant to section 10.3(a) of your rental contract, you are hereby given the required 24 hours notice that remediation of a window leak will commence on the premises by Acme Construction, LLC.  

I have been making no-contingency cash offers on REO's, but ALWAYS do my own title search and get the title insurance.If your search turns something up it will be remedied at closing out of seller proceeds vs you being stuck with it later.