If overall you feel really good about this deal and you have not heard/seen anything that gives you pause about potential expensive repairs being exposed during the option period, I personally would do the deal.

Eventually I got exposed to real estate investing and the Bigger Pockets YouTube channel.

Kristin, these are 1997 and all the cabinets are good except the sink cab and one cab that has been exposed on the side and front now that a row of cabinets from a pass through were removed (hard to explain.) 

Two main strategies for investors just starting out would be: (1) start with LLCs and no insurance [limits your exposure to just the property in question] or (2) really good insurance [covers most issues, but your personal assets and other investments are still exposed.]

You don't know what your tenant have already experienced in their lives that might have already exposed them to asbestos. 

Additionally an elevation certificate will be require, which could help the insurance cost if the home is built up on a higher foundation to mitigate the risk, or maybe just the garage is exposed to potential floods. 

Or else you leave yourself exposed to arguing its cause. 

Purchase price: $89,895 Here's the finished pictures of our back unit....we installed new LVP, painted all walls, painted out the kitchen cabinets and installed a tile backsplash, gutted and redid the bathroom, tore down the water stained ceiling in the mudroom and left the old wooden beams exposed, exposed old shiplap on the walls, de-did the stairs to the attic, and turned the attic into a legal 2nd bedroom.

For example, if you're investing in luxury rentals in a resort area then you might be more exposed to market corrections as the percentage of people who can afford your rentals shrinks.

While I am both a real estate investor and a stock investor, be sure that you have money that isn't heavily exposed to short term market risk.