That mindset ignores the service side of real estate that actually drives long term performance.I see investors buying properties with known deficiencies, then spending more money to hide their identity than improving the real estate.

I consider this a known deficiency and a non-issue since my process handles it. 

dont have good enough credit.. took guru class's on how to buy with the wrap method.. your relative would be absolutely nuts to sell without getting released from the liability of the current loan.. especially in Texas where they can get deficiency judgements even on owner occ loans.

A I are my initials but I am very real. lol @Nicholas L.To your points, @Doug Heim, @Bo Smith, and Nicholas I understand the "red flags" conundrum as follows: we must identify problems prior to purchase, factor those deficiencies into the acquisition price, and ensure we have the right contractors to execute the necessary repairs. 

For me that new skill is home inspection.....being able to tour a property and visually spot the defects and deficiencies is valuable when formulating the price to offer when buying.

From the first 2 there is a $2M deficiency and on the next two probably the same.

If you can document the PM deficiencies, fire them for cause.  

If the buyer fails to redeem, the seller obtains full possession; however, forfeiture bars certain monetary relief that you must discuss with counsel to understand the remedy.Foreclosure: When Equity Is at StakeForeclosure is the more comprehensive route when a buyer has significant equity or the seller needs to recover a deficiency.

Electrical system deficiencies (48% contradiction rate)Outdated panels, aluminum wiring, missing GFCIs... sellers routinely skip these.

They will allow a Property Manager/Real Estate Agent to quit if the property owner does not follow recommendations/demands by the city to correct deficiencies or violations.