And yes, I require every person over the age of 18 who will be staying in the house to go through the background check and be a signer on the lease.

Also in this day an age I am thinking this can be done remotely buying and holding property in other states.

I wouldn't buy a 12 unit with all 1 beds built in 1912 just because of the age, even though it was renovated in 2018.

We know the target age, lifestyle, income and hobby of interests. 

We are living in an age of scams.....it's a full time job just being vigilant to all the crap going on....

Now.....having a net worth of $10m+ at any age and never having used leverage is a different story.The term "millionaire" is relative.

@Neil SmithPull a list from the auditor of what you're looking to call, load it into a dialer, call the numbers and ask to speak with the owner (their first name) - Introduce yourself by being personable (Who you are(first and last name - age/background), where you're from(local guy), and get straight to the point - why you want to buy and if they're interested in hearing an offer on their property - it's like a quick handshake over the phone. 

The U.S. is currently in the midst of the greatest transfer of wealth in HISTORY, as Baby Boomers age-out and relinquish their assets to younger generations.The deals are definitely out there!

Your caution makes sense, given the property's age and the listed issues.

That being said being so quick to grab na property at my young age it may not have been the best deal; but I put 0 money down and actually got paid to purchase this property so I guess I didn't do too bad.