So I don't like these properties for a cash only component.

@gary @Gary Swank I look for at least an 8 cap with a value-add component so I can force appreciation through certain tactics.

Maybe you need to ask and get in writing that these companies use environmentally safe and non-toxic cleaners.No legal advice.

Here in Texas, the major components (foundation, roof and AC system) would run you between $10k-$15k.

Do an environmental inspection on the land itself to search for contaminates or...?

For a buy and hold investor the condition of roofs and other components are important even though they do not need replacing right away.

Finding the asset to purchase is one component but the knowledge of that asset class is where the broker earns their money as well.I do transactions all over the United States.

This air conditioner will run on environmentally friendly 410A freon.I found it online~$800 + I am thinking worse case scenario 8 man hours to install at $100/hour + $200 to charge the system.

I would guess it was not "down to the studs".It sounds like this guy bought the property with cash for rehab.Turned into a money pit for him and values went down and now he instead of rehabbing it is looking for a sucker to unload it on.Namon you are just way,way off in your calculations.You need to go to the stores Home Depot,Lowe's,etc. and get acquainted with an idea of what things cost.You would be amazed how all the little things add up.The labor component is key as well.Do it yourself (free labor but a cost of time).If you have never done it before you can screw up and waste time and materials eating away any potential labor savings.You can also use a handyman for work OR a certified contractor.They each will have their own rates what they charge for labor.

I really do hope that these changes help everyone with the components of networking that are currently missing here on BP.