I know that I need to make sure there are no liens, judgements etc. but as far as the mortgage and assuming the property from the bank will I have to pay what the original homeowner was behind etc?

Therefore skips, evictions and damage judgements are more common.

If the tenant does not, you can file for possession by default judgement.

I then use my judgement as to what my unit may or should rent for.

They trust my judgement. :)

For 20+ years I provided electric service 'at cost' to tenants and was challenged (as part of eviction judgements) in two court cases by tenants.

Good to know, I just read the contract, it’s nothing like that, they ask for always to  have insurance, pay on time, if too many liens, foreclosure , sell or judgement. freeze: to many extensions, value of the property goes sustainable decline, nothing about rent… 

They are drive-by appraisals and frequently appear to be influenced by the judgement amount so I take the number with a (very small) grain of salt.That being said, the property will not, under any circumstance, be sold for less than 2/3 of the appraised value.

I would be concerned about having a judgement, if a realtor can have a judgement against them beyond what E&O insurance is - I didn't get to that question during the meeting with the local real estate attorney.

I have been there with a tenant likeyou an got taken to court> tenantsaying condo bad , unlivable whenI just remodeled the whole place myself> the tenant played the samegame you did well the judge actuallywent to this condo because like you thetenant said it was junk well the judgegave me a judgement for $4,000 unpaid rent AND kicked him out the very next day > by the way your trick is know byjudges and if you are found out to play this game look out!!!