(Not every deal would work for even known borrowers like that but this deal's parameters allowed for it including a small rehab budget, so small hold back even at 75% ARV but the point is when you have a relationship not every thing is cut and dry.

As we began the process of opening up the walls to dry the house out, we began finding black, mold, termites, and metal roofing that was installed without sheathing or moisture barrier.

That’s like watching paint dry, but slower.

I have been there its a dead and dying town.. why anyone would invest there is beyond me.. its what happens when industry leaves a town high and dry.  10 years ago you could buy houses there for 500 to 1000.. and thats all they are worth.

I'm living off of cash reserves and burning through it - there is a well dry date looming on the horizon.

Myself when buying off market If there is a PVC riser then the sewer line has been replaced at some point.. but if its not PVC then its clay and as @Marcus Auerbach mentioned your going to have root intrusions soil moves clay breaks etc etc.. just running water down the shower and flushing toilets is not going to identify the issues generally.. 

What they did was require framing to be completed and pretty much the structure dried in before they will now market the property to their list.

It’s faster than trying to save the full amount on your own.A lot of people have money ('dry powder') waiting on the sidelines but don’t have the time or desire to find deals or manage properties. 

I've recently been getting ceiling paints that go on pink and dry white to make it easier to see what spots were missed.

Without our authorization, they left drying equipment in the property, and tried to charge us $578 per day for leaving it there.