These organisms can destroy a roof years before the 30 years they are suppose to last.

Both will pretty much destroy their credit for the time being.

If I do install, do I set it up on an automatic timer, assuming tenant wont mess with it? 

Also, why am I obliged to insure a property for more than I will happily take on the off chance it's completely destroyed?

Great income.My only concern is i want to use the $40k i have for the down payment and the repairs (I will use income for holding costs if necessary).If i put down 20% on mortgage I wont have enough for repairs.

@Ryan Haase  all mold issues we ever dealt with were tenant inducedthe number one was tenant using garbage bags for window coverings. since there kids destroyed the blinds we had in the home when they moved in.LOL  

Most of these areas are beyond help.. you can buy the stuff rehab it try to rent it only to have it destroyed by tenants within 24 months.

I won't have confirmation until i can call the IRS and title company again tomorrow, but i think if i can just get my seller to take a new 8288 down to the IRS with my cash buyers info on it and have them switch it out it wont be a problem.

From a conventional purchase standpoint, $12k wont get you a decent home at all.  

As someone else said, some deals just wont work.