You find out what it will cost you to repaint and deep clean between tenants plus the number of repairs( i use 1 per year or in this case 1 1/2) It usually averages $150 per.

Paint, carpet, light fixtures, some clean up will often go a long way.

You should be able to find out from the auction company of they will be providing you a clean title . . . most do, some don't so ask up front.As far as due dilegence on the property, more and more are being auctioned occupied which means you will need to evict the tenants (and hope they do not trash the place). 

Coordinating requests, cleaning, etc. can be time consuming.

And that means that nobody besides you can do any work related to this property this month - something very easy to trip over if you have a management company, cleaning people or contractors involved.

@Adam Styles this may sound a bit harsh, but consider it tough love: if you're looking to "team up with investors", you'll need to put more out there than 1 sentence, and you'll need to put your best foot forward to show how you're going to bring value to the table.No experienced investor will have any interest in teaming up with you until you learn how to present yourself to them in a way that demonstrates the value you're bringing to the table.

Stable, clean area. 

New furnishings, paint, light fixtures, mural, cleaned up outdoor space, etc.

Special warranty deed implies that there will be a title search, clean title, and title insurance provided at the closing table.

I have tried lots of things to help; posting on additional sites, opting to allow pets when I didn't initially, lowering the rent by $200; lowering the cleaning fee, etc.Opinions welcomed and I know this is dependent on a lot of factors.It's a 2BR 2.5BA townhouse, lakefront, convenient central location, safe neighborhood, completely and newly furnished, TV's, W/D, fully stocked kitchen, king size bed, deck and balcony overlooking lake, professional photos, video walkthrough.Utilities all included along with furnishings.MTR, so month to month leasing option.I initially listed it for $3000/month, then lowered it to $2800 a few weeks ago.Is it too high still do you think?