Here's the actual law with the important part underlined:§ 55.1-1251.

It depends on the state laws where the property is located.

Interesting article about “Squatters’ Rights” in California; how they originated and their intended purpose vs. how they are currently being taken advantage of.California's Squatter's Enable Tenancy Rights After Just ...

Yep, the non-disclosure law in Mississippi is a pain.

At a very base level, make sure the property is up to health and safety codes for your location. 

They work in a very grey area of law and don't know anything about the law. 

That leaves millions of middle-income Americans with little choice but to keep renting, helping to keep overall rents high.Some cities and states are enacting new laws to aid tenants facing eviction.

My father in law had purchased one of those for about $40,000 before he died.

I work with dozens of investors who have done 1031's into the souther/middle part of the country where the price points are much easier and the laws are more friendly.

I don't want to break the law, I just want to make a better business decision.