I would just ensure that you can determine the extent of the problem and are fairly compensated in the transaction.The home I just purchased had some deteriorated grout in the tile surrounding the window in the downstairs bathroom, this was negotiated out of the price.  

However, there are literally thousands of MH rent/lease parks that are in socio economic areas that are not desirable to live in let along invest in.Unfortuantely many if not most of these parks will only continue to deteriorate until eventual economic eviction strangles the entire park and there's no choice but to close it and try to rezone it for a higher and better use more conducive to the area. 

This helps you protect the home from deterioration and also gives you a checklist of repairs that you can expect to be cited by another home inspector when you sell the house or arrange a section 8 lease. 

Also be aware that some old farm houses have underground gas tanks that have deteriorated and contaminated the ground, this is a big concern that many people overlook.

I have a similar scenario I'd love some guidance on:2 Story , 3BR 1BA, 1100 sq ftColorado Springs, CO areaComps coming in at about $160 - 175KRents at about $1300-1400 - however it will be my primary residenceHouse needs at least $50K of foundation repair - owner has estimates from over a year ago, further deterioration sinceI estimate another $5K for collateral damage and fixing unsafe/non compliant electrical issuesHaving a PE do a foundation, mold and home inspection this weekListed for sale at $140K has been in MLS for 6 monthsFHA short sale finally approved Listing agent just informed me it should close in 30-60 daysI'm a cash buyerBackground - house is unofficially on the market.

In your sense, I guess I am hands off too. but you are right, I had trusted ppl on the ground, and/or have the infrastructure to keep them long distance. and when that infrastructure deteriorates, I sell asap!

My goal is to acquire properties through foreclosure and if I am doing via tax sale then I believe it should be a home run not just some mediocre deal I can get off the MLS any day.4) I have misjudged the value of properties or the property has deteriorated between the time I inspected it and foreclosed.

With the roof deteriorating and everyone could use some funds i'm in favor of selling for cash. 

All investors must have a lot of similar issues come up over the course of a year.Maybe it's just me but unless we want our properties to deteriorate and have a lot of deferred maintenance I find it nearly impossible to stick to this:Please advise with any thoughts

The balance of the properties was not well maintained and so deteriorated physically.