A house that was purchased for $8k in that kind of area, I would look really hard at the fundamentals - electric system, plumbing, framing, insulation, foundation, roof, mechanical systems - and pay less attention to fancy kitchens or bathrooms. 3.

I metered the water/electric on the laundry room & found no excessive use of water/utilities.

I have seen the property and it looks like all it needs is a little rehab; paint, carpets, and the yard needs cleaned up.

This just means in some sort of audit or lawsuit, your personal banking records will be needed to show the movement of funds to demonstrate that everything was done cleanly/correctly. 

probably 20-25% plus some reserves if the land needs electrical or fencing, etc.Let me know if I can help

It comes with 3 water heaters, 3 separate electric panels, however landlord pays for heat since there is only 1 furnace.

An attorney will draw up the mortgages and it keeps it clean.

Note of caution; understand your foreclosure laws, depending on where this is in the process, attempting to pull investor ploys without having the ability to purchase yourself as implied under the contract can land you up against federal law, a lender can clean your clock for interference with an insured depository.In other words, investors who lack the ability and intent to buy themselves as stated in a contract with someone in foreclosure should stay clear of any attempt of trying to pull off anything except a true a cash sale.   

We specifically need someone who can do most the following repairsReplace Windows, Replace Doors, Bathroom Renovation, Minor Roof Work, Landscaping, 2nd Floor Deck Repair & Electrical Work.Would love a reference of someone who has done good work for you!

Change the locks, clean it up, and get it rented.