@James Thompson Transferring property from your in-laws to you can be done through a gift, sale, or trust transfer, each with different tax implications.

@Jason Ma, I can only speak to what I know about Wyoming law. 

Landlord representation is all my law firm handles.

In Maryland, it's not the city so much as the state and the laws you have to watch out for.

So, I would be very conservative (for your standpoint) on the researched estimate.I would do what I suggested above, then if the tenant takes you to small claims court you explain to the judge the legislative time restrictions you were under in order to come up with an accurate repair expense.This is yet another example of how "tenant protection" laws, in practice, end up hurting the tenant in the end.

Brokers are providing a professional service and facilitating transactions.They give you guidelines on how to and how to not do a transaction and if you follow those rules you've transacted within the law.

My in-laws own the property free and clear and it is part of 3 contiguous lots that they own (they live on 1 lot and there is another lot separating their lot from the lot we intend to purchase). 

Both said the same thing to me (so I know a problem is brewing): "Nobody is allowed under the law to assist a seller in any way, while earning a  fee, commission, or profit from selling someone else's property without a license.

Wait .. all...This entire question is wrong.See, be careful when you say Every 1000, gets you a deal.Most of you are implying "Law Of Avereges".Law of averages state that something has a higher probability of happening because of the expectation it has to happen because it didn't happen yet.Consider this.

I am very familiar with the strict zoning laws for Hawaii short term rentals but most Waikiki apartments are either too expensive or leasehold only properties.