Rotted wood ??

I had to borrow against my equity via a HELOC to keep the ship afloat, and when the market decreased the prices and my inflated equity dried up...Well, let's just say it was not pretty.So I can believe that you have done all your due diligence in outlining the numbers and analyzing the deal, and like you say, since you don't need to do a deal just because you want one, why not pass and continue to look for an investment that works for you financially and personally?

They are SLIGHTLY more expensive than stick homes, from what I hear.... but in the long run, these houses are FAR more energy efficient, mold / flood proof, sound proof, termite proof, rot proof, etc. 

I am in the process of starting a rehab and there are a few things in the house that I am debating on, I would appreciate if people can share their thoughts on these1) False ceiling in basement VS dry wall2) Remove of Keep old whole house fan or remove it completely or replace it3) Wooden panels (1/3) in basement wall - remove it  or paint itThanks

TL;DR I like a foreclosure, the roof leaks, credit union doesn't seem excited to finance it, ideas?

Yes foreclosures are drying up as markets recover.

I went through my material list (200+ line items) and here's just a taste for you:Paint, primer, windows, doors, dry wall, mud, tape, screws, corner bead, door knobs, door stops, closet shelves, closet hanger rods, baseboard, door casing, ceiling fans, ceiling lights, switches, outlets, cover plates, CO & smoke detectors, underlayment, underlayment screws, thin-set, grout, tile spacers, tile, grout sealer, sanded caulk, cabinets, vanities, faucets, sinks, toe kick, filler boards, counter tops, garbage disposal, water lines, plumbing lines, drain kits, valves, mirrors, towel rods, tp holders, bathtub, shower pan, tub/shower faucets/valves, toilets, wax rings for toilets, dryer vent, floor/ceiling vents, tack strips, carpet

It's not a cut-and-dried decision or solution.

There may have been a leak at wax ring at some point and you could have rot in subfloor.

This is a dry climate is that still an issue?