But, if repairs come up and they don't have the money to fix them, if they put a bad tenant in that does a lot of damage, or in general, if the neighborhood starts deteriorating, it could turn into a bad investment.These are all things to think about with any real estate investment.

There is no charring or damage to structure, just smoke discoloring as far as I can tell. 

There are a few reputable companies around the country, some of which are here on BP, with solid long-term reputations.  

There is small retention pond kind of area next to my property belonging to city which they are not managing ( There are big trees there which are close to my property about 12 feet away which may damage roof if fall towards my property but it never seems happened since 1961 touch wood).

The lawyer looses all reputation.  

Repairing water damage and fixing broken items is the bear minimum for a landlord.

The rapid rise in interest rates have caused somewhat of a mess for multi-family but that damage is likely already in the past (but not played out yet).

I never take them up on this offer as they are not insured and they could hurt themselves or cause damage to the property or someone else.

Drain System: POSSIBLE DAMAGED LINE.

Not looking so much for damage to the rentals, but to cover injuries should someone get hurt on the property.