Make sure you list when tenants can call you and what classifies an emergency unless your lease specifies the same and when they can contact you (Tip: use a Google Voice #). 

Originally posted by @Tony Christian:The Exotic  Animals section was pretty funny: Tarantulas  Ferrets Skunks Raccoons SquirrelsYes, I am surprised rabbits are on the list.As for skunks, I had applicants I would classify as "skunks" LOL.

In Nebraska, reselling water could get you classified as a small water system and trigger testing an certification requirements.

Interesting article:http://articles.chicagotribune.com/2011-03-18/classified/ct-home-0318-renting-20110318_1_restitution-tenants-criminal-chargesMight be worth contacting the former tenant and offering a resolution that does not involve the authorities - worst case it motivates them to reimburse you for damages above their security.

Their is a lot of diversity here from executive to what I would classify as slumlord properties.Keep in mind that most properties in the actual Uptown are mixed commercial and residential.

Looking in houses for rent classifieds will help find these areas.I like areas with 25% to 50% of the houses that need repairs.Remember you will wholesale to someone who will fix and rent or sell to an end user.While driving around if you see a house being rehabbed, stop and ask the workers who is having the work done.

- The house I'm guessing your looking at is classified in the AE flood zone (100 year flood plain), and that combined with the 2009 flooding will probably make the property difficult to sell.- The buyers would be required to get flood insurance (assuming they get a mortgage) and I imagine insurance in that area would be rather expensive compared to the buyer's PITI, making it hard for a lower-income buyer to buy the house.In general, while you could probably make a profit reselling the property at $80K ($10K purchase, $40K rehab), I'm not sure you'd get a ton of interest at that price.Of course, if you're looking for rentals, the numbers may work out better, but I haven't run them...Personally, for flips, I like the flood areas of Austell better.

Hello Navin -- I have not read all the other responses--First you have to determine if the asking price is right --reasonable --good deal -- how about the rental comps in area for similar house and what about the demand --check local paper classified and on Craig's List --or ask Real Estate agents --if you still want to buy --what about financing and appraisal ?

I agree with you in that sense, however, personally I choose to limit my exposure to audit as much as possible and in the example given by OP, they are claiming two thirds of the residential space as "business use" which is likely to trigger an audit based on square footage calculations and the property being classified as residential.

How exactly is a neighborhood classified as an A/B/C/D-class neighborhood?