If you are buying several properties I would strongly urge you to go to the location and look for yourself to determine neighborhood and condition. 

Plus you need to see the comps from the MLS,if any from a good real estate agent to determine what the property is worth now and after you make repairs and improvements.Equity is determined by the amount of money owed to the bank and what another person is willing to pay for it today in " As Is" condition.Get a good contractor to walk the property with you to determined the current physical condition and what it would take to repair and decorate it to modern standards and bring it to its full After Repair Value.

It is listed in the MLS, though.We're going to see it tomorrow and make a cash offer of $70-85k depending on the condition of the interior.

Your maintenance/misc % will be entirely dependent on condition of the home.

Is it OK to add this part in addendum.REPAIRS AND MAINTENANCE: Tenant agrees to maintain the lawn, repair and/or replace any and all facilities related to the premises, to provide ordinary and customary preventive maintenance, and to maintain the building in good to excellent condition throughout the Term of this Agreement.

If it's in good good condition Id leave it if ur on a budget.

When I was in NYC, I spent a few months in a homeless shelter surrounded by violence, pain, mental illness, theft and deplorable living conditions everywhere you turned.

How many thousands of dollars are Banks throwing away by allowing investors to circumvent the no-assigning and no-selling-before-value-adding conditions that are in their REO Contracts?

When conditions get like this, in any type of market, it's a signal that a significant number of people are going to lose money - whether it's from buying stocks that look like they'll just keep going up, or buying houses that are in a bubble. 

Until you know current condition of title, you won't know his to work this opportunity.Opportunities are found; deals are made.