Fortunately, the Short Term Shop teaches you all of these things once you are under contract and through the inspection period.  

3) How flexible is the contractor about meeting at the property for their inspection to generate a bid? 

Hi Steven,It sounds like you and your wife, Renee, have a wealth of experience in the real estate and construction fields, which is a great foundation for starting your real estate investing business.Given your background in residential remodeling and home inspections, and Renee's experience as a real estate agent, you're off to a strong start.

It sounds like @Ricardo Polanco is following the rules and just needs to let the OSE officers in for inspection.

I ended up working my father into other areas of my acquisitions (inspections and renovations) along with several other family members oddly enough.

Once she receives a voucher, you’ll need to register as a Section 8 landlord and have the property inspected to meet HUD standards, which can take 30–60 days.If you want to move forward with rehab quickly, a cash-for-keys arrangement might be faster.

The reason is the rent-to-price ratio is good so you can cash flow, and most of the West side doesn’t have a Point of sale inspection which is really annoying.

I personally inspected the properties, managed and participated in the rehab, interviewed and placed tenants under lease, and performed all of the ongoing maintenance and management of the rentals. 

I just maybe have been lucky but the age does not scare me if the price is right and the inspection comes back clean. 

Quote from @Yaroslav Shtogun: Good morning,Some updates, we did home inspection and the house is not good condition since it was built in 1950 and was not maintained well.