You should also talk to a mortgage originator RMLO, the value of your note will be worth much more if a RMLO seal is on the note. :)     

Roof is not new but does not leak, was sealed a few years ago. 

what's up Taylor, thanks for breaking the seal, I attended Assumption and am now looking to invest in multi fam properties in the Worcester area, looking forward to connecting in the sub forums!

He offers to pay 6-month rent upfront to seal the deal.

@Kendall Seals As everyone above mentioned, you would do two LLCs, one for the flipping business and another for the rental business.

GFCI outlets ($150)Washer and Dryer not working ($400)Safety glass in bathrooms (free - I can do this)Replace toilet ($400)Fix hot water supply to shower ($500-1000)Water heater is original ($500)Windows seals as windows are foggy-replace windows (suggested but not required)Upper unit needs new flooring and countertops likely. 

Is the lead already been painted over and sealed up? 

You can't clean textured ceilings so sealing in that smell and color are the only cost effective options. 

I'm offered a house investment under a seal and lease back contract.Purchase price is relative low but renovational work is needed.

Minor smoke damage can be sealed so that the odor doesn't leak out later- but it's easy to miss something and end up with an odor problem later on.