I bet you are looking at that foreclosure for $80,000 that just came on the market. That is in the Northbury Condo complex off Nixon. The condo fees on this unit are about $335 per month. Taxes in 2008 were homesteaded at $5174. The SEV is $110,800, putting the assessed value at double that. So you can see there is quite an upside to renovating this condo. Although it is in pretty rough condition, it appears that all the damage has been removed, and you can pretty much start with a clean slate.
If you would like more information or to see it, I would be happy to help you out.