This legal description is what will define the new parcel on any future deed or contract.

If they are deadbeats you may get nothing but I have heard on this forum they they do eventually get paid back, even years later, so it is worth a try imo.If you stick with this company or use a new company be sure to have a clearly defined policy about how non payment of rent is handled.

However, what is defined as multi family according to USDA?

I'm still working to define my niche, but I don't think it'll be 100% investors or 0%, rather somewhere in the middle with lots of owner occupied larger transactions in the mix.

Starting with firing your PM and then deal with the tenant as your attorney advises.When you are looking to hire a new PM, have your attorney draw up a contract that defines the nature of the relationship you hope to have with the new manager, and ask to see a copy of the PM's Policies and Procedures Manual. 

I'm considering supplying them with my inspection report where the inspector noted several components in either "Fair" or "Poor" condition. 

IMO, you best bet is to define your goals, objectives, liquidity constraints, budget and time commitment (how active or passive you'd like to be).

Also remember the 5 needs of every transaction, 1-How much are they asking2-What do you think the property is worth3-Terms other than cash4-Your exit strategy5-What are the needs of the sellerThese 2 components will help you to go far! 

This one is a little more involved, but it keeps everyone's roles and responsibilities clearly defined.

@Joe Johnson Maybe before anything you should define what you consider ROI and how you calculate it - this is how I do it:Cash Flow = Annual Income (or Monthly Rent x 12) – Vacancy (or Monthly Rent x 12 x Annual Vacancy Percentage) – Operating Expenses – Mortgage Payments (or Property Price minus Down Payment, all multiplied with Loan Factor times 12)Cash on Cash Return on Investment = Cash Flow / (Down Payment + Closing Costs)1.