I'm looking around the place trying to assess what it would need and remembered meeting a guy in the same complex who did a complete reno and said he put about $15k into it, (complete kitchen gut job, tile, carpet, bath cabinets, paint, moldings...the works) So I factor this into the equation.

On top of that they left a dozen bags of garbage on the back porch.I took pictures, we both signed the exit inspection report, and I advised them not to expect to see much of their security deposit returned.We then had to call our new tenant, who was due to move-in for June 01 and see if we could push her tenancy back until July ... fortunately she was able to accommodate this ... especially since we are going to refinish all the hardwood floors throughout the apartment.This was an example of where a basic turnover: rekeyed locks; new/touch-up paint; and a thorough scrub turned into a mini-renovation and the loss of a month's rent :(

And while I don't know about the rest of the metro area, I'm guessing they're buying older stuff than that, just based on the fact that many parts of ATL have older housing stock.The ones in this area are buying all over the metro, including about a dozen counties.

That's also why you have liability coverage during that ownership period, which covers you during that insured term and forever as well as any current policy you may have.I'd talk to a RE attorney as to the assessment of any risk in reality, I've never heard of a homeowner being sued 10 years later for any of those issues.Can they prove that mold existed prior to or on the day of sale?

It is assessed for $107K.

Let your tenant know that fines assessed by your municipality will be on his/her dime.

If I sell it or rent it out to someone else, I could be assessed damages of at least $10k or the purchase price.It's totally unrealistic for anyone to move in in 60 days based on the condition of the property.I'm prepared to pay asking price all cash ASAP.

That gets you into a ~$2MM property, so a pretty good sized MFR, which will be much easier to manage than a half dozen SFRs.On a personal note, and I hope you'll take this in the spirit it's intended, when someone says "serial entrepreneur" I hear "can't stay focused on one thing and hop from project to project whenever I get bored." 

And we have dozens of homes over $1,500/mo, several over $2,000/mo, and 2 at $3,000+/mo.

We wholesale dozens of properties annually.