Assets identified in this study include:Standard windows and doorsInterior ceilings and wallsBasic plumbing and electrical systemsBuilding structural elements and roofingBasic HVAC componentsWater heatersFire protectionThis engineering-based cost segregation study included the following methodology:Physical Inspection through a site visitDocumentation review including architectural plans, accounting records and construction documentsA cost analysis which utilizes engineering principles in order to allocate costs to their applicable asset classificationsCalculation of the depreciation schedule using MACRSAs a reminder, bonus depreciation started to phase out in 2023.

Seller should record their lien against the property, you both should have an attorney review to make sure all interests are property documented and protected, and i think everyone is in a good place. as far as evicting tenants... this is up to what you and the seller can negotiate. i would still be putting on the same contingencies - appraisal, inspection... know what you're buying. don't get blinded by the seller-finance piece. 

., get them in place before discussing an increase with the tenant because it's much easier to get inspections and repairs done when the tenant cooperates.

I'd start by giving all residents the required notice (usually 24 hours) and go inspect the units as quickly as you can. 

Didn't do an inspection on the sewer.

Managing from a distance can be done, but you still need boots on the ground to handle showings, inspections, eyes on the property regularly, etc.

We now live in Arizona and I frequently fly back to the southeast to repair or inspect the properties and already deduct the travel, lodging, and half of the meal expenses from my taxes. 

Of the tenants keep it IMMACULATE (do an inspection.)

Risk Mitigation StrategiesThorough due diligence: Always conduct thorough due diligence on any property before investing, including inspections, appraisals, and market analysis.    

For small MFH/SFH you have to find the deal, inspect, estimates and decide what to do, make a deal, get financing, get contractors, manage contractors, pay contractors, then turn it over to a property manager.