It was most likley an inspection reason and there may be a report that you can review before seeing the property.

So if market rent for the apartment in its current state is $1200, raise it to that amount.

I live in NJ & bought an apartment building 12 years ago for $1M and put down $250K.

Now I feel like I'm just a B&H guy but I find myself flipping apartment deals from time to time due to the excessive prices some are willing to pay. 

Hey BP,Does anyone have a Monthly P+L/budgeting template they use for underwriting bigger value add apartment deals they would be willing to share?

You should be learning the legal way to raise money and forming Partnerships and buying apartment complexes under your control. 

The kind I do not like are passed on from their parents who never learned to work so they expect you take care of them.There are some restrictions and annual inspection most have to do with safety(railing), smoke alarms, and sanitation....

The reason I ask is I have had 2 separate offers accepted only to fail during an inspection.

My brother has been living in an apartment complex since 2005.

@Raimel Diaz Yes, you WON the auction and it looks like you've committed to purchase the property as is without an inspection.