Ironically, or not so ironically, the majority of issues and concerns turned out to be with how the retail tenant was maintaining their space. 

It sounds to me like you are 3 steps ahead in that there is a lot more work and details that need to be ironed out before you even start shopping for loans. 

We use title companies down here who are responsible for getting all those details straight before closing, not sure if it is the case there but however the deal was done, it shouldn't have closed without that information ironed out.

I can hit a 9 and 6 iron at the driving range....does that count?

When forming a partnership you really must iron out how the partnership will work before starting. 

Small multi-family (2-4 units) in Houston, TX3016 Nagle Street, Houston, TX 77004Currently In Option PeriodPurchase Price 106,500Seller Offering Title Ins, 3% Concessions, and a $1200 Home Warranty for the Homes.Lot Size 3,500SqFt / Two Small Homes on Property (1st) 672SqFt and (2nd) 768SqFt Both Built in 1932Local Appraisal District Rates it Land 68K, Improvement 15K, Total Appraisal 83,700 (Ironically Appraised Matches Market Value, I heard it shouldn't) Additionally Both Homes true Description doesn't match the bedroom count inside.Homes are both currently rented and I will have to replace the tenant in the larger home.

I'm hoping to pay the first one off as soon as possible using income from my job in the film industry and then start concentrating on the next.In the meantime however I want to concentrate on finding plenty more deals like these that have positive cashflow that I can pour back into the original mortgage and get it out of the way as soon as possible, all the while increasing the rent over the years.Finding finance at this stage has been very easy as I have no mortgage on my own house, I simply take 20% of the purchase price out of my own overdraft for the down payment, then borrow the full purchase amount in order to pay back the overdraft.Despite wanting to go large, I think I'll try and use these two properties to iron out my full landlording systems so when I do have multiple properties it doesn't turn into a disaster.Anyway, plenty of questions over the coming times- acquisition, management, financing.

We put everything new except one iron-cast tub, one toilet and the floors in the living areas and rooms (we sanded and stained the floors).

When the plumber came out to do the hydrostatic test he opened a clean out and immediately grabbed his scope (a camera on the end of a flexible line to look inside the pipes).All of the sewage pipes in the house were cast iron so the likelihood of them breaking when the house was lifted was essentially 1000%, but besides that they were pitted and corroded to the point that he said he wouldn't even bother finding the breaks.

i lost two years of rental profit due to corroded cast iron DWV pipe.