It is a mechanism to protect buyers, just as the "earnest money" is.

thanks for your take Jon. some of the NOI might seem skewed because we have a 150k renovation up front in the budget which includes all new unit finishes, kitchens, baths and mechanicals, so yes I'm sure its off but not as much as you might think.I appreciate your comments.

I'm a small-time tax lien investor and am looking for recommendations of companies who can provide a service of pulling real estate reports to further research things like:Property tax liens (to include subtax)ForeclosureIRS liensCity liens / mechanic liensAnd any other liens that might be currently outstanding against the property.CoreLogic has their RealQuest platform which can provide the above but unfortunately they are asking for a 12 month commitment at $150 / month (one report per month).

What I do is pay my contractor to fill out a basic report that has all the main bullet points such as roof, mechanicals, siding, electrical, ect. and take pictures of the house and the main components. 

@Calvin LipscombSame advice as in your similar thread;https://www.biggerpockets.com/forums/664/topics/57...No way that 3 hours is enough time, 8 may be a little much if the units are the same and/or if any of the mechanicals are centralized. 

I'm currently an aircraft mechanic working for the department of defense.

With these items in mind the following would be accomplished by room.Complete Unit:All mechanical and building permits pulledInsulation in walls and ceiling (If applicable)Draft stops in ceiling attic (If required)Install new 1/2" drywall. 5/8" on fire walls (Seperation walls) (local AHJ may require two 1/2" sheets of Type X drywall.

Eric works as a mechanic and Samantha is an Administrative Assistant. 

I work for a mechanical contractor in the Chicagoland area as my W-2 job.

The way this was explained/presentation on their website was you could utilize this mechanism for real estate property management/including passive i.e. rentals.