Also, the floor had some big cracks and looked bad and this was a home built in 1904 with a brick basement, common for the area which is a hot area of higher priced older homes here, so I had the three walls removed and replaced with new block walls, a drain tile and sump pump system put in and a new floor poured on top.

Assuming the house isn't built on a hill and is sliding, this type of slab cracking is very common in my area where oil companies have sucked the blood out of the earth for over 100 years.

But this is a hands on deal, you can't be passive.The payoff is that after a few years you have fixed all the problems and will have a nice performer for low value plus a lot of equity.All the best deals I have ever seen involve trusts, divorces, or inheritance situations where the parties that acquired the property didn't know what they were doing or devolved to the lowest common denominator.

It's less common in cheap houses but it's hardly new.stephen------------- Originally posted by @Derek Robertson: Hydronic cooling exists but it is very new and impractical.

It's common for tax auction properties to be sold on eBay and other places with a useless title, zoning, etc.

I am Ryan from San Jose or more commonly the bay area.

Did you buy condos and leverage the association for the management of common area and repairs?

I have not inspected any of the apartments yet, but the common area and grounds seem to be in pretty good shape, just needing paint & carpet etc.

If they said it's common for the area I'd stick to market rents.You can call your local housing authority and see what they say about it.Look at comparable properties and rents advertised, are theirs lower due to the heaters?

It's much more common for a borrower, especially an older one, to forget something, like the bank had to pay some taxes, insurance, some missed payments, etc.