Providing fixed costs, factory monitored conditions/precision and rapid timelines (as short as 2 months for a full 4 unit apartment to be delivered and rentable to our site), we are strong believers that modular is the future of real estate. 

Here is what Gemini AI says, better put than I can:Land Contracts in Kentucky: A Brief OverviewA land contract, also known as a contract for deed or installment sale contract, is a type of real estate purchase agreement where the seller retains title to the property until the buyer has paid the full purchase price, typically in installments.Key Features of a Kentucky Land Contract: Conditional Title Transfer: The seller maintains legal title to the property until the buyer has fully paid the purchase price.

We have actually agreed to cover everything you mentioned in your post along with all other necessary items to ensure you are purchasing a home that is suitable condition to be a successful rental. 

You need to pull comps for what homes in a similar area, similar condition and similar size are renting for, that is what market rent should be.

There are definitely some key points to consider with this though such as Income Verification, References, Terms and Conditions that I would recommend having.

The houses are on pretty rough cosmetic condition but the tenants have not shown an interest in any kind of renovations.

.- I have the statement of condition that I will have the renter sign and make copies of and provide them a copy.- I will have them provide a copy of their tenants insurance for my records. - Will provide receipt for first and last months rent.- Im thinking of not charging security deposit because of all the strict MA laws and just using the last months rent as a sort of security deposit, thoughts?

Question #2 When getting homeowners insurance, how does one answer questions about the condition of the home if they’re not exactly sure?

Your home, has to be in good condition & you will have to ensure that the tenant can vacate the home. 

I'm buying a property directly from the owner.  We are negotiating the price with no brokers, which I love.   This older gentleman is financially "set" and does not need the money.  I'm buying the apartment cash but I...