Hi Richard, Thank you. When my investor wanted this I really did scratch my head. But it took him almost 3 months to completely rehab. His return on the investment after purchase, rehab etc is about 10% of investment outlay prior to tax benefit. He is obviously very happy and so were the neighbors for clearing the blight from the neighborhood.

Hi Susan,

The new owner basically striped the whole property down to the shell. What intrigued me was that for a small starter house could ever get in this shape in the first place. I didn't show the worst pictures as they were sickening. He took it all in stride with his crew and demo'd and cleaned out and then started over. With a firm budget and a good plan, he did a remarkable job salvaging the neighborhood from this blight.

Hi Mryl, What was astonishing to me was the condition when  saw the property. I can tell you I felt dirty just walking through it much less having to spend the time in there writing up my visual inspection,:-).

Hi Marchel. The Buyer purchased it as an investment property. He is earning a 10% return on. The value difference before and after is close to $50,000.

Hi Elizebeth, Wonderful of you you to stop over. Recalling conversations in comments , you should enter Sally's contest. Here is a link for you. P.A.W.S. CONTEST  The investor and his crew did an amazing job. We have tried to buy some more like this but the pickings are slim right now. 

Woo Hoo, I more or less had the same reaction when I had to go there. But I can tell you, it was the investor that didn't flinch. Though he did mention he hadn't seen worse. Fortunately he had guys demo the entire interior to the studs and beyond. I just telling myself, " Under All is the land".

Hi Andrew, It is not so much about this being an investment grade property so much as that the Investor cleaned up a neighborhood blight. 6 months after the fact, the comp disappears but the clean up helped others that live around there.