As long as it is not a safety hazard they can do it this way.  

I actually joined BP a little less than a year ago so I am not new to this site, but, this is the very first post I am posting, so, I am very glad to introduce myself here.I've recently quitted (finished my last day two days ago) my full time job in the heavy construction industry, which I had worked in for the past 10 years as a construction safety manager.

I'd ask him (/her/them) to appraise it as if he was being the eyes and ears of an FHA lender, because those standards are a little bit higher than fannie/freddie, and include health/safety issues.

There is safety in numbers when you own c class rental properties. 

Then you can either cash out refinance that equity bump to roll into the next deal (BRRRR) or let it ride with added safety and cash flow that you can put away for the next deal.

After all, are we landlords really the benevolent people you describe as "providing housing," as if we consciously prioritize the service over the profit?

I would like to have some extra margin of safety since Houston rents are likely to go down over the next 1-2 years.Cameron - Since you are from Houston area, are my expense estimates reasonable?  

Here is a part of the letter, I sent to the seller:The home inspection was completed on September 29th (please see attached) and the following issues were pointed out: 1.The wooden floor frame in the middle unit is deteriorating due to either prior water leak in the bathroom or due to moisture infiltration through the walls and foundation.2.There is evidence of significant settlement under the middle unit bathroom and north closet.3.The settlement of the floor and walls has also resulted in settlement of the roof frame above this area, ceiling shows cracks.4.There is an obvious depression on the roof – water is ponding on the roof above the middle unit, which adds excessive weight on the roof and potential for leaks.5.Asbestos containing material has been found.6.The current bedroom heat installations in the north and south units pose a safety hazard from carbon monoxide, fire and oxygen depletion.7.An electrician performing upgrades did not use ‘arc fault breakers’ in the north and south unit breaker panels, which is required by the national electrical code.8.Upgrades to the electrical system, promised by a real estate agent, have not been completed yet.

And periodic inspections, and posted license details, and conform to regulations for safety, etc, etc.

Safety come with a price the same as taking financial risks or being on welfare.