The tarp can also be a tell tale sign that the current vendors care enough about the property that they don't want the plaster ceilings, hardwood floors, roof boards and joists to get wrecked by water damage. You may be able to get away with just nailing another layer of shingles on top of the existing one. It may not be as bad as it seems. If I was looking to invest in IV, I'd probably check this one out first and get a home inspection for an estimate of the costs to make it liveable again. I think this place will be getting multiple offers, probably above asking.
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