Mike Flora The property will be fixed up before it's leased by the seller (I'll run background checks to ensure good tenants), still waiting for details about maintenance, garbage, sewer etc. the property is a 1% ratio of rent to value, asking number is a hair below Zillow value.

I myself wanted to just take it and get it out of my hair.

Perhaps this is just splitting hairs, but I wanted to be clear.Now, to answer your questions, looking in a class neighborhoods will cost you more and thus, reduce your cash flow, but have more appreciation potential and less defers maintenance on a class buildings.

And Italian taxes will make your hair stand on end.

All of my gray hair came from our world record of 22 minutes before closing!!! 

This would be a thorough process where you comb over every possible detail of their business plan.

And the overall cost is just a part of doing business....if people don't want to deal with permits, then they are in the wrong business.I could tell you stories about permits and inspections that would curl your hair.....Lol... 

Your wife and kids may want a home to live in, preferably where they have already established a life, friends, social, school, church, shopping, playgrounds,  doctors, dentists, hair dresser, etc.

I'd also wonder if the realtor showed up with some random person from their office who looked like you (eg similar build and hair colour) would they say anything?

Turned out to be what was left from rats living in the attic from what must have been decades ago.Rat hair, dirt, feces.