Thanks Michael,Diligent research was undertaken prior to using the current group, but performance has declined over time, hence why I’ve requested current recommendations from people familiar with the Alabama market.Cliff

Since eligibilty is often hyper specific to a particular board, it is essential to get direct validation from that entity prior to even touring a property. 

As for the existing occupants/prior owners they need to go.

Common illegal activities are involvement in drugs, subleasing the property without prior approval, illegal gaming or gambling, cockfights.Holding overA holdover tenant is someone who continues to stay in the rented property without the consent of the landlord even if the lease has already expired or has been terminated.

If an incident occurred not caused by the tenant and the property is as practical matter totally unusable for residential purposes, the tenant may terminate the lease by giving notice to the landlord before repairs are completed.Failure to install, inspect or repair smoke alarmTexas law requires the landlord to install, inspect and repair smoke alarms prior to or at the beginning of the tenant’s lease.

Prior to house hunting it would be best to work with a lender in getting pre-approved to have your financials reviewed so you know the maximum price point you can start a property search around. 

I include non-paying tenants as part of the vacancy risk included in calculations I make prior to purchasing a rental to ensure it will cash flow.

Hi All,I'm doing some STR research prior to buying a property to use for vacation rental and I wanted to hear from you all what are the typical STR monthly expenses?

A great agent will also invest in home, pest, and roof inspections to remove doubt in a buyer's mind prior to making an offer.

1) Appears the property has ungrounded electrical system, not required prior to 1971.https://en.wikipedia.org/wiki/Three-prong_adaptor#:~:text=In%201971%2C%20the%20US%20National,effective%20January%201%2C%201974).2) As a poster alreadsy mentioned, the property may be up to code, just not today's codes. - When building codes are updated, it is often uneconomical for all buildings to be upgraded to meet new codes.