Ten years ago, there was almost zero code enforcement so you have a bunch of nonsense that you may not catch with pre-existing stuff and you may get hit with some monster issues down the road. 

Similar issues happen with VRBO and Airbnb electronic payments:(

@Isadore Nelson Yes, eviction is possible, but there are too many factors that need to be taken into consideration, active military family members, disabled veterans, building violations, maintenance issues and etc...

It's a whole other thread to get into but do some research on the issues with commercial real estate, Ben Mallah is a recent high-profile additional person to come out publicly on this and who is putting his $ where his mouth is. 

If I buy a note in SW Missouri, I have none of these issues of long distance due diligence or enforcement issues.

The town granted the restaurant a temporary exemption based on the fact the business creates jobs, which would be reviewed with new owners or landlords.Another issue is mixed use is structures from another era and it's use had been grandfathered.

Look for things like whether the windows are new or old, if the property is boarded up, and any signs of structural issues. 

There's nothing wrong with seeking concessions if there are issues that arise in the report, but using this as a strategy will garner you a reputation within the community if you are repeatedly going under contract and then seeking large re-trades. 

@Lily Jensen Getting a HELOC on an investment property is not an issue.

First and foremost, buying more than one property at tax auction is advisable to help you unload those that may have liability issues.