I want a modest rental property portfolio as a retirement vessel for us as well as cashflow to insulate us from an economic downturn (job loss/injury/etc), and I'm wrestling with myself trying to find the best way to utilize this 80 grand I have access to. 

The seller has disclosed a pending lawsuit against the Trust that owns the property stemming from a fall that resulted in injury. 

If there is any unsafe condition, electrical or otherwise, it could cause a serious injury or even death.

Most likely the state where the property is located is where lawsuits would be brought if they are something for personal injury like a trip and fall or something of that nature because the “cause of action” arose in that state.

You might want to talk to a litigation or personal injury atty and learn a little about how a primary residence risk-mitigation strategy could differ from an investment property. 

You will need a plan that covers injury to tenants and property damage.

I have been through the eviction process several times and it's not fun, once it starts you have to let the courts handle things and many times it just adds insult to injury as it progresses. 

Most likely the state where the property is located is where lawsuits would be brought if they are something for personal injury like a trip and fall or something of that nature because the “cause of action” arose in that state.

It happens to be that the physical therapist taking care of me is a lady that is trying to move out of this practice she works for, where the target market is geriatric care and wants to expand her outside network of athletes that she currently takes care off (for injury therapy and body motion maintenance reasons) and treat them on her own.When she mentioned that, I instantly thought, what can I put together with this situation for cash flow with REI.

Also, do you have to cover personal injuries for your tenants?