I am curious what are the real world considerations that come with properties lacking a CofO.Has anyone bought an investment property w/o a CofO and what was involved in obtaining one? 

It is hard to say anything w/o specifics if these deals are "good" or not.....there are many variables.Most of the packages I see are picked over, or junk....most of the good stuff gets snatched up quickly, or broken off and listed on MLS for top dollar.If you want to discuss shoot me an email troyce1 at gmail , and I can give you my input.

I mentioned E&O insurance… they don’t have it.

Are they allowed to just do 6K of work w/o your approval?

Kennedy F 330 Typpay This Agreement XXX PG: 261 PGS: 201.02) $385.00 Pat xxx , Clerk Of 263 11/21/2011 at 261 DOC TAX PD(F.S.201 .08) the Circult Court H111sborough County for Deed made thx s day of 2011, between XXX, LLC, whose mailing address is XXX Palm Harbor, Florida 34683, party of the first part; and XXX, a married woman, whose mailing address is XXX Tampa, Florida 33615, party of the second part, WITNESSETH, that if the said party of the second part shall first make the payments and perform the covenants hereinafter mentioned on her part to be made and performed, the said part of the first part hereby covenants and agrees to convey and assure to the said part of the second part, her heirs, executors, administrators or assigns, in fee simple, clear of all encumbrances whatever, by a good and sufficLent deed, the lot, piece o: parcel of land situated in the County of Hillsborough, State of Florida, known and described as follows: Lot 205 and 206, XXX Page XX of the public records of Hillsborough County, Florida, also known as XXX Tampa, Florida 33624 and the said party of the second part hereby covenants and agrees to pay to the said party of the f 11st part the sum of Fifty—Five Thousand ($55, 000 . 00) Dollars, in the manner following : The principal of Five Thousand ($5, 000.00) Dollars to the party of the first part on the date of the execution hereof .

You will need to have your money ready to cut a check, and your money person ready to cut a check.That will tell you (based on your underwriting) what you can buy.Unless you are a member of rich clique (such a Yacht club or etc...) finding a big money investor might be hard, but with #1,#2, #3, and #4 under your belt--you can (as they say in the boxing world) come out swinging.Once you have that, looking for a property becomes simple underwriting and negotiating.Where will you get the earnest money % from?

No balloons, I/O, or funny business.  20-25% down is typical on the FRM. 

Quote from @Brendan O.: I have some properties in an average neighborhood that i developed into large apartments some with five, six or even seven bedrooms .

;o)

Zane O.