What you will find is that 6 months go by quickly, we usually try to have the appraisal done just before the property goes on the market (still empty) and then close on the loan after we have provided a signed lease to our (commercial) lender a couple weeks later.

Most of the time you will consume more than you produce but if the house is empty I suspect you could generate a pretty nice credit.

It had been empty for at least 5 years.

I expect a basically clean and empty house, Not spotless because you're going to go over it or have a crew come in, but just a basic clean with nothing left in the unit.

@Bettina F.I read it as he was getting his tenants under contract.. he now only has 3 with a lease.. so as he chooses to renew or not as per when their lease comes up.. if  he gives a option for a  longer lease term to some or not.. is his choice.. you don't have to give all your tenants the same rent increase, the same lease term length, or renew.As owner he can choose to keep some apartments on month to month and others longer term so he can rehab, raise rents, and to do that he may need to start emptying apts,, one at a time or whatever he chooses.  

Fully empty right now.

I have a different scenario - the hubs and I both can work remotely, and have toyed with second home for summer living, but I hate the idea of paying for something that sits empty the rest of the year. 

Landlord will complete an inspection with the Tenants to verify the rental is empty, clean, and in the same condition as they received it.

I think there are going to be a lot of empty lots for sale in the coming months.

That happens when tank is empty and you need to wait.