These are small enough that they are still operated by ma-and-pa operators but they are typically easier to find funding, operators, and contractors for.

Do you use licensed and insured contractors?

Hire a local home inspector or contractor to assess the property and provide a detailed report.

Did they have a clause in the contract or something?  

They have utilized a number of financing approaches including: Minnesota Housing Finance Agency Tax Credits, Conventional, Grants through Duluth Economic Development Authority (DEDA), Duluth Housing & Redevelopment Authority (HRA) Assistance.Sharon Brown with Duluth's Life Safety office is a great resource as well when dealing with blighted properties.

I would like to know, if you have good success with Property Management teams in Huntsville market as my property in in C area(35810) and like to get a very good team who can find good tenants and handle the property well.Also, if you had general contractors who you had success with as well, as I am looking to do new flooring to this home. 

-Do we do most of it ourselves or have a contractor do it?

We did not vet our contractors very well.

Agents, property managers, contractors—they need to be reliable, and you need to vet them thoroughly.

Don’t forget to get title insurance to, and get the owner’s paperwork showing that all contractors, subcontractors, and materialmen have been paid.As for short term rental of a condo you buy, most condominium associations don’t allow that, and for good reason.