I think it's important to note that many receivership properties have to be listed/marketed in some sort of fashion and that generally includes Loopnet.

Once all the concrete is out, start fresh with modern backer board. 

Also, the architect made a gorgeous modern home but there were so many clear span areas stacked on top of each other the whole thing was built out of steel which made construction costs $100k higher right out of the gate.

We selected the Encinitas and Leucadia area of North San Diego County (Aerial photo above) because, first and foremost we live in San Diego (Americas Finest City), and secondly because of its old fashioned traditional funkiness, fabulous surf breaks and fantastically friendly beach people and surf culture; a true breed unto themselves.

Lee,if you're serious about this you need to put together a team to help you.First,get a real estate agent who knows the apartment seen well in Miami.Next,get a general contractor capable of handling such a large project.Use both of them to inspect the property inside an out to see what needs to be done to modernize and repair the entire complex.After that,use their information to create a property analysis to present to financial institutions and private investors to show them the potential profits after rehab has been completed.Your best bet may be to get it under contract and wholesale it to bigger pocket investors with cash to invest in such a large project.Good luck to you.

If anyone on here is interested in participation in the deal in some fashion, we can discuss that too. 

Capex and Modernization should be 1-3% of the asset value.

I like them because of their very old fashion customer service. 

Seems a little old fashioned and was wondering what other options were out there, such as direct deposit?

If you are looking to buy another rental property I would recommend not using a HELOC for your downpayment in this fashion.