Kind in mind after you buy the house you will have other cost, electric, water, insurance, everything must be working to pass a FHA or USDA home inspection.

Dont forget if this is a co op type purchase/investment you may have to pass a board interview even prior to being considered as a prospective buyer.you would most likely need better than average credit or buying cash, shared loans are provided by less lenders.

In practice, I have seen roofs that were well beyond their service life and needed immediate replacement pass a conventional appraisal without being mentioned by the appraiser.

Would this method of paying tax would pass a Local Authority and/or IRS audit?

I am still not sure that the federal government can pass a housing rent control type of a law. 

I had an agent tell me that if I pass a lead on to them, they can only give me a referral fee if I'm a licensed agent. 

I've even seen an inspector pass a footer, then later another inspector come by and cancel the pass and turn it into a fail. 

I'm not familiar with with OH probate laws or any shortcuts to bi-pass a formal probate.

Remember this, anyone that has to go to school, pass a state board, then take more courses to keep a license and keep furthering their education because Real Estate for anyone with a license is regulated.

Hopefully one of them was the home inspection and that the properties had to pass a successful home inspection, as determined by you.