-It is priced comparable to rentals in the same area, and in better condition than some listed for the same price, much better condition.

But the truth is he knew exactly what that property was worth in that condition, and that’s exactly what he got paid for.

What’s the condition of the units?

@Christopher Dolan ultimately that decision is up to you, but I would start by conducting a survey of all other rentals on the market and figure out where your rental fits in based on condition, quality and location. 

Can I put this house as collateral maybe to purchase another house in better condition to move into, so this house can be fixed up.

Its 2.14 acres with a detached 2 car garage, private well/septic in unknown condition.

@Heath Jones Alternate... advertise it as scrap metal for free on condition of being picked up on Craiglist... copper and aluminum in the unit gets the scrappers excited to haul it away at no cost.

If it is a common practice, then I'm more curious about the terms and conditions that I could expect from a standard insurance companyThanks

Although it's hard to tell the condition of the property.

While taking into consideration the market conditions both nationally and throughout the state:-What asset classes are the most desirable for commercial real estate investors in the near term?