However property is not up to code, needs a well.

Risks are low demand, the bad shape of the property, the area around it, past owner problems, law and zoning issues, and meeting local building codes.

For showing they would email a code to lockbox to prospective tenant once the showing appt arranged.

When the transfer happens, they should provide you with copies of the tenant records, tenant contact information, your owner records, spare keys, codes, etc.The PM should notify the tenant in advance that management is transitioning back to the landlord.

Similarly, there a lot of properties here with huge code violations ($80-$200k dues to $50-$100/day fines going for over a year).

Pros/Cons:    - do you need to make structural changes to meet the ADA, zoning, or fire code for the new use ( ie ramps, wider doorways, accessible bathrooms, etc 

I could sit and tell you all zip codes I am comfortable buying in but Akron like many cities almost changes from block to block.

Hi Guys,I am looking to purchase a property in 38141 zip code in Hickory Ridge-South Riverdale neighbourhood on a single family 3 bed 2 bath room property.

And that is all that is required per IRS code - notice must be sent to US Attorney.

(I use Midwest Tax Service - he also owns rentals so keeps a close eye on changes in the tax code).