And how could I possibly know if the plywood underneath the shingles is rotten just by observing it myself?

I observed HUD occupancy guidelilnes, but with that many bedrooms, 10 was still 'ok'.  

*Security - home should protect security of property (security not as in weather or burglars but as in collateral) *Soundness - home shouldn't have any physical deficiencies that compromise structural integrity.AAn appraiser usually comes out to the property, conducts their inspections and documents all observations and expert opinion.

@Dawn QuinnA couple of observations :4. 

Actually, those of us who operate under the real estate broker license ALREADY had an obligation to look at suitability, it just wasn't as clearly spelled out.It also brought those who broker and solicit investors for single loans under many of the same rules that only those who offered "fractionalized" or multi-lender loans were under before.Aaron Norris Great observations - thanks for pointing out the questionnaire, that's something everyone needs to be aware of.

A second observation would be to think in terms of" adding value" to properties through physical and Stabilzation improvements.

Normal meaning what has been observed before.

Are you saying there's a separate tax just for rentals...or just observing the sales tax on oil?

Travis:We provided the engineering report (which was stamped by a Texas registered engineer, the stamp carries a lot of weight) to the buyer to give them comfort that the foundation problem, while observed in some visual evidence of settling through wall cracks at corners ect., was not severe and could be dealt with one pier.  

This also gives us the opportunity to observe the quality of their work.It is in our best interest to mitigate risk by carefully vetting vendors.