Given these concerns, you might consider asking the seller to either repair the issues or offer a credit to cover estimated repair costs.

Mostly worried that even if I find a place and the money, that I'll be making a big financial mistake and have little left to cover unexpected costs.

I literally know nothing on this subject so any input is appreciated.

The real issue I found relates to my insurance/umbrella policy, as there are certain breed restrictions they won't cover. 

I buy for cash and then pay about 6 pref to start to investors but I KNOW Sams Club covers all the variable costs because it says so in the lease. 

Therefore, the only patients a nursing home like this could get is state Medicare, which does not pay enough to cover anything other than MARGINAL costs.  

You have no access to the property so you are buying sight unseen and subject to any and all liens.

If they can make enough just to cover mortgages, with the high appreciation of the properties, it's a great investment.

Buy a TLC or "ungly inventor" and use some of the cash to do some renovations before or after depending on if the properties were "Subject to" or would pass an appraisal and had high ARV potential for remodel or build out.

Would recommend documentation to make sure you’re covered if you have to go to court to evict.