160 In addition to the power to make, amend or repeal by - laws under subsection 56 (1), the board
of a
vacant land condominium corporation may, subject to section 56, make, amend or repeal by - laws, not contrary to the declaration, specifying minimum
maintenance requirements for a unit or a
building or structure located on a unit.
In apartment
buildings, it is the responsibility
of a
maintenance technician to perform make - ready processes for
vacant processes in order to ensure that it is ready for the next tenant.
Looking at listing may not need full rehab, new roof and water heater done, 3br in neighbor run 900 to 1000, rehab for low
maintenance, try to buy as low as you can, look at comps, probably could go in as low as 38 - 42 with good agent and stress as is, maybe a few agents here to help, get one to give you good numbers not listing agent numbers, street is a nice one for area, not much back yard or parking but nice front, before you close make sure
vacant contingent, if numbers work I would do it, the are predicting an abundance
of rentals avail next year with
building craze but keeping expense low you should be safe, remember don't rehab as if you are living there, think durable and repaintable, number should go into systems and structure first, elect, heat, walls, windows, floors, plumbing, if you use a contractor go with one you know or work with someone in area to keep an eye on progress, good luck at least you know some
of the history
of the property