Business owners won't want to get tied up in litigation and if there is a good chance they will lose, it is easier to simply follow the contract.How would that work with a lower-end tenant? 

I'm going to follow this to see what tips folks provide.MikeHey Mike, I am actively investing there so feel free to reach out with any questions!   

Done right just the first house will give the owner the ability to retire for life after the mortgage is paid. 

Hi Ryan,Welcome to the landlord journey!

Hello buyers in the Spokane, WA area and the PNW!

My endgame is to end up with $300k/yr in post-mortgage income in 20 years based on investments I make now followed by continued investments over the next 10-15 years own.

Why not test the market by putting the lots up for sale, and if nobody bites, that might provide your answer. 

Talk to the exterminator and let them know there is a problem. 

But keep in mind if your using money you cant afford to get back then buying action property might not be appropriate for your current endeavors and its better to just buy open market were you can do proper due diligence and know you have a build-able site.

Also, I am guessing that due to the state of the house, it would not qualify for a conventional loan?