So it sounds like it needs $7k worth of small repairs and upgrades to make it in liveable condition.

Disbursement of funds held in escrow must meet the conditions of the escrow agreement.

You will usually do a walk through the day before closing to ensure it's in the same condition as when you made your offer.

That almost always means they have a few realtors that they refer clients to who have a house for sale to obtain the FMV (based on the house condition.) 

@Jon AcostaOn a free and clear house, no work, great condition, great location, offer an installment sale, for a buy and hold property for yourself.Get the payment to owner low enough below market rent for a great cashflow to support PITI and maintenance and vacancy; purchase price can be $125,000.payments to seller (market rent - 350) or better.Installment sales have imputed interest (See Applicable Federal Rates IRS)I would offer cash or terms, cash is .70 x arv - repairs.Owning private mortgage paper is better than owning property: no toilets, tenants, or law suits.

One of my wife's uncles was in charge of one of the properties which is zoned for commercial/residential, it is a 1708 Sqf office space/small warehouse on .36 acre lot.Which with some research it can be split into 2 lots.He let the property go to the dump, needs a new metal roof, and gutted, replace plumbing/bathroom, replace electrical etc...Now my wife’s Aunt is in charge of the estate and she was the one who approached me.She said they will "sell" me the property for $30K (estimates from Real estate agent say property is worth $43-$53K in current condition) Which then I could clean the property up and try to resell with the improvements.Now if I did replace the roof make the inside look nice and clean the overgrown landscaping I was told (real estate agent) it could get about $60K, but there are back taxes and liens on the property as well.Plus closing cost for when I sell it, I have run the numbers and it seems that I would MAYBE make $3000-$9000 conservatively.But I am real concerned over the fact that it is used as an office/commercial, and wouldn't this limit buyers?

I can generally command 150 - 200 dollars premium in rental rates because of the condition of my properties... my tenants refer their friends, co workers and family to me when they are looking for a rental.Is that acceptable?

Need to make repairs to the house and bring into rental condition.

A reasonable estimate is $270k on the current condition.

The condition, town sewer, system update, 3rd floor walk-up and great in-town location to schools, MBTA, EBSCO & restaurants – makes this a very desirable property when completed.