Steven,
There is quite abit you left out of your comments, but to answer your question directly. I have yet to see a bank do a rehab. my suggestion is this call the banks reo dept and discuss it with them before they get a realtor involved by doing so you save them realtor fees.
Pat
My neighbors house was just taken back by the bank. And its in pretty bad shape. Records show that the bank has certificate of title. Balance of 71,000. Maybe its worth 55,000. How can I get it before the bank decides to quick fix it and list it with a realtor?