Depending upon the volume of transactions, how long you hold them, and if you can be a landlord for a little while, you might also be able to qualify for capital gains treatment.  

@Alexander Felice - I see both points; however isn't there some sort of moral or ethical obligation to the neighborhood in which your rental units are present to not be blind to criminal activity taking place on your property?

@Ross McKenzieAssuming you didn't just choose a realtor that has no ethics or morals at all and that you are looking at MLS type properties it is unlikely your broker violated his obligations just for you. 

In addition, if they are members of the National Association of Realtors® there are a code of ethics that could be involved as well. 

And the property is now pending contract.Now strictly for educational purposes, did she violate any code of ethics?

Once down to studs - can GC take care of treatment and replacing of neccessary framing or do you need a mold specialist to come in and give "all clear" so to speak in order to resell house.We have read so many mixed messages about mold - obviously we know it is serious issue, but we also feel it is something people are overly scared of and super concerned because they are not going to gut their homes. 

$1500 over for the cabinet doors and $5500 over for the stain treatment!! 

I like your energy and work ethic.  

I know ethically it's not ok to approach homes that are already listed by an Agent, i understand that and respect it.  

Are there any legal or ethical issues to be mindful as an investor that does have access to the MLS?