NOW for the kicker: I did a trulia search and the property falls dead in the middle of a High Crime area marked by red on their map.

Getting rid of the living space that was once a garage will reduce your ARV because you will be losing livable square footage.

I have the envelopes, stamps, yellow paper, red pens, and some samples of good copy so all thats left is filtering the leads and getting everything written.I will have this done and mailed by 6 pm Sunday February 16th.

The numbers in red are actual values where I already have a bid on stuff.

Also, I've been writing my yellow letters by hand with red Sharpies in simple letter format of 'Dear ___, Hi!

I spent a number of years working in banking compliance and this type of an account is an immediate red flag not just at account opening but also for closure once someone figures out the account was opened incorrectly.

Basic Stainless Steel Appliance Package: $2,500 (frig, stove/oven combo, vent hood, dishwasher, with labor to install - we do not include microwave)New Roof: $4,000 (new tin roof - prices vary greatly depending on # of squares area on the roof)New Carpet: $2,000 (includes new pad with aprox. carpeted area of about 1000 sq. ft.)Bathroom Remodel: $2,500 (new ceramic tile shower stall, new ceramic tile flooring, new vanity, mirror, light fixtures, sink, and faucet fixture)Paint Interior: $3,000 (includes painting and some general drywall/finishing prep work)New Vinyl Siding: $3,500 (covering existing cladding with vinyl siding)Paint Exterior: $2,000 (2 coats of exterior paint, minimal prep work)All of these are VERY basic estimates based on a house with 1400 square feet of total interior space.

I'm sure you are aware they would sell for less per square foot than a stand alone.Without money, the way that people make money in development is they find deals that are broken in some way.

Has anyone had experience in dealing with code violations and city permits/red tape, etc?

An assignment is a red flag in retail lending.