You are starting to hear the more conservative approach more often with the current economic conditions. 

You can identify problem settling areas that may cause problems on newer construction as well as old, and on old you can take a look at the condition of the pipes and get an expert's opinion on them.Good Luck!

Repairs generally include work that maintains the property in its original, operating condition without significantly enhancing its value.

This is fairly common within the industry and a way to reduce administrative costs considerably since you’re not repeatedly negotiating the base terms and conditions of the contract.

Cap Rate is a static measure based on the property’s income-generating ability and current market conditions, making it easier for direct comparison of properties. 6.

They keep the property in a condition that it appears owner occupied with a pride of ownership.  

Yesterday I went to the home to see the condition, there was no car on the driveway… I opened the main door to peep inside…looks like they still have lot of their stuff inside and I can smell bad odor; I just closed the door and returned back.

You’re kinda stuck, as you can’t clearly “evict” the tenant…maybe only if there were hazardous conditions.

According to the National Association of Realtors' Code of Ethics, realtors must avoid concealment of pertinent facts and should not misrepresent the condition of the property.

Found a really good deal on a 2 bed 1 bath older home in pretty decent condition.