I did run a light background and employment check, she checks out. 

The problem you're going to run into is that you do not have stabilized occupancy.

I have been to several meetups lately and there have been several comments about several deals with them running into trouble recently, but no one could give me any specifics. 

Opportunity to purchase from prior owner as is in run down condition How did you find this deal and how did you negotiate it?

We didn't have to do much on this, so this one will appreciate over the long run due to the growth in the area.

Unless this is the deal of the century, after reading through the issues, my first thought is: run, don't walk!

As ravens fly across the sky,I pass agreements swiftly by.No need to claim the haunted land,Just find another eager hand.A trader's art without a trace,What practice runs this spectral race?"

Here,  in Georgia, all agents use a standard contract so I don't need to run the offer by a lawyer.

He runs it via the Archdiocese on a very religious platform. 

Rashim,My advice would be to reach out to a CPA and they give you a complete run down on taxes.