My day job is as a certified mold investigator. 75% of my clients are sick in some way as a result of mold exposure. 

The way this should work goes like this.... 1) notice plumbing issue. 2) cut open ceiling and investigate.  3) find problem. 4) fix problem(s). 5) replace damaged sheetrock with a new undamaged piece. 6) after mud and tape, match existing popcorn or texture to what currently exists now on rest of ceiling unless it is a smooth finish. 7) if it's smooth finish or textured then prime and repaint ceiling. 8) done!

Hello BP,I am starting to investigate how to go about using an FHA 203K loan.

I've completed each investigation without a fine or any penalties, but it sure is a scary and time consuming process to endure, and it's not fun).

I have been doing some reading on how to study a market for investing and after I read several articles I feel confident in knowing how to investigate a market but then 5 minutes later I feel lost and don't know where to start.

Like I said before, I'm just the owner and like other absent owners with "other" full time jobs, my primary focus is to simply find tenants not having time to further investigate the intricacies surrounding the lease.

@Tricia O'Brien, Brandon Turner listed some sites in his new book about different web sites for investigating crime rate and school district ratings in order to know the areas better. 

So, as the well known vigilant broker I am, I investigated.

B. (1) BUYER HAS: 30 Days After Acceptance, unless otherwise agreed in writing, to: (i) complete all Buyer Investigations; review all disclosures, reports, lease documents to be assumed by Buyer pursuant to paragraph 8B(5), and other applicable information, which Buyer receives from Seller; and approve all matters affecting the Property; and (ii) Deliver to Seller Signed Copies of Statutory and Lead Disclosures and other disclosures Delivered by Seller in accordance with paragraph 10A. (2) Within the time specified in paragraph 14B(1), Buyer may request that Seller make repairs or take any other action regarding the Property (C.A.R.

Most often something in between.Make sure you investigate the situation closely before moving forward.