Just the other day i over heard some news from CNN,Forbes,Wall street Journal,and one of my favorite real estate gurus Preston Ely, witch stated that numerous large corporations and ceo's have set aside billions of dolors to plan on buying up millions of foreclosed properties in very large bulk in one swoop across the US with in the next 12-24 months.

.- On top of all this, the city kept adding things to the TO-DO list: changing out the panels on the covered patio to a type of fire-resistant material, having to build a retaining wall separating our property from the neighbors lot, re-grading the front and back yards, clearing weeds and shrubs from the adjacent lot (not our property btw but we did it because it made our property look bad).

There were some homeless folks living on the decks in the rear of the property but the overall concern and the obvious reason why this property was not moving was the condition of the foundation.The East wall bowed out significantly but it had been reinforced.

@Antony Gayden They are all two bedroom units with basements, we are totally re-doing bath and kitchen, floors have to be refinished, new appliances and electric, some plumbing, all walls have to be recoated a few windows, paint.

Dude, you need to open walls, and sometimes gut the whole thing if you want to position that property to catch that ARV.

I turned the 3rd bedroom into a loft area by having the builder remove the wall and doorway during initial construction.

It will depend on the wall behind the unit but I was able to take out the rear wall of a closet & retrofit a stackable all-in-one unit.

The tenant also told me that the move in condition of the property was terrible (dirty carpets, holes in the walls, broken glass windows, etc.). 

Our economy is still recovering from the last round of damage caused by Wall Street.

Hi Alan Berlin , as an agent, I see where the other real estate agents are coming from.