It also seems reasonable that the seller would want to get his own bids on the repairs.

Hello, I have been studying Detroit real estate deals for few weeks now and they seems too good to be true with 30% cash flow after everything paid off and 100% downpayment.

Seems you are a pretty interesting individual.

This gets me to a 12% CoC return, more than 4% better than paying all cash for the deal.Going the second route would let me buy 3 more similar properties for that same 74k in cash I would have spent in the first scenario, which would generate $8,640 in cash flow per year, rather than the $5,760 I would have had paying all cash for one property.I don't know if that helps at all, but it seemed relevant to your situation so I thought I would share.

They don't seem to care (or understand) that this will sink our building financially - they only say that we need to bring things back into compliance with the laws and are not offering any other solutions.We are looking at a potential VERY high special assessment to cover a lot of repair expenses (mostly to interior work due to tenant damage of rented units) so I'm looking to arm myself with information and questions to ask.Any input will be GREATLY appreciated! 

(as for California and New york it seems)Our goal is to invest on rental properties (we can't flip from France) with very low expenses in a safe area.

I love homes with history and architectural detail and Louisville seem to have an unending supply of these. 

I work in Southeast Houston and there seems to be very little activity on oContract.

Yes - it seems the best way to limit liability is to require that work is done by licensed tradesman who are insured.  

A local investor is liquidating 13-14 rental properties and it seems like there is a good opportunity.