:@Adam Craig wouldn’t you guys put a as-is condition on your purchase contract?

Now, that being said, tenants are to return the property in the condition they received it minus normal wear and tear. 

I would not anticipate much turnover so could be good cash flow over the long run, the question is the long-term appreciation… depends on your strategy and weather you’d be managing themselves or relying on unknown local property manager, contractors, etc.

Market rent in the area is around $1,800-$2,000, although working market rent out is hard as there's nothing of this size, or condition available in this pocket of the Columbus. 

Flexibility in loan terms and conditions?

Get all of them to sign the lease saying they are moving by the end of Aug and will have all of their possessions out and the place in good condition at that point. 

Most of them keep the props in better condition then cash tenants, as they are aware they can " loose their free ride "Keep crushing it 

I buy properties in AS IS condition and  mostly in New Jersey area but I want to venture on other areas and help homeowners that are facing foreclosure.

I think you're recommending a more detailed analysis involving the age/condition of all the building components/systems and prorating those costs out over time.

Hows the weather up there in Watertown?