This will keep you safe and your powder dry.If the lower comps DON'T work, there are 2 options:  1. pass on the deal, or 2. inspect a LOT more properties in your market so you become an expert in value there.  

Upon inspecting the property after move out, I discovered the tenants had applied a polish/wax to the floors.I had two flooring experts out and they both assessed there was no way to remove the polish/wax and restore to the matte finish. 

Total rent should be $800-900/month.After inspection major issues we found were:-gutters/downs need replaced, drainage run away from home (water in basement)-chimney needs tuck point at minimum, bricks falling off-mold growing in basement (big chunks of white growth along all wood)-cosmetic work about $2k to upper unitSeller wanted $14k, we offered $10k due to the amount of work we need to put in.

We are out the cost for inspections and technically still under contract.

boy the only ones I know doing this anymore are apartment builders dirt is too expensive. even a small lets say 1200 sq ft single level 3 and 2 which I would assume that would be minimum size with the price of dirt and utl hook up fees etc.. is going to run you in the high 200s just to build at cost.. at least in markets were rents will be over 1500 dollars. 

And or assigns and long inspection periods are no go’s.

It’s a small apartment complex in the heart of a thriving downtown area.

I'm currently looking into purchasing a property's who Pest and Organism Inspection Report from 3 years ago shows that it was infested with fungus in several locations - the kitchen counter, under the bathroom, the garage, and crawlspace.

If you plan to live in it for at least 12 months after the work is completed and it is not owned by a corporation, LLC, etc, (Again, not sure how they research this) then you can sign a Homeowner affidavit and work as your own GC and hire out the respective licensed trades to complete the work to be inspected. 

Great neighborhood, recently rehabbed, happy with the numbers on paper....but, the inspection came back today with a little surprise.There's standing water in the crawlspace.