To clarify, I had initially put the property under contract but had to back out of the deal due to negative inspection results, specifically related to foundation issues.

Should you run into an issue with said tenant and need to evict or should city know you placed them in there, you expose yourself to potential fines. 

My thought here is that these properties will have no mortgage associated, purchasing the property offers the opportunity to have the deed issued for the property. 

I run into this issue frequently where NJ investors are looking into out of state thinking it is cheaper, that's not always the case. 

Even though the price was shocking to me I do not have an issue with paying for this if needed.

So by the time you sell it and deal with tenant issues, you really do not get ahead.

Should there be any issues with your property though, that is one of the first things you could expect2.

I have to say that the presentation was extremely strategic - hitting every issue that would be important for Knoxville's demographic values.

If it is a market rate class A, B or even C properties, I would say that it (basic maintenance) is something the tenant should handle considering that for these properties the tenants likely have additional resources to handle small maintenance issues. 

It is very common for residents to note of issues within a week of move-in.