We are willing to be patient to find a good tenant if needed. 

We all know it’s not a safety issue, but as a tenant, I wouldn’t want to be stuck in a house that *I* considered unsafe.

Her construction team is quite large has connections with LA Building And Safety, Permits and Plans are already approved.  

Close, put the $250k you planned into it to fix any health or safety concerns then use the cash flow to fix up the building or redo units as tenants turn over.

Even if you don't make a profit it would be a way to learn by trial and error and prepare you when the time comes for you to get your first deal.Since they aren't married, keeping the home could be advantageous to her as a safety net until they tie the knot.

Be patient and Learn something new everyday and doors will open!

It wasn’t put up to watch her it was put up as a safety measure for crime in the area.

And some inspectors balk at using the money for things not necessary for health and safety.

Fortunately the tenant left voluntarily yesterday, I was patient with him, and stayed there the whole day, putting gentle pressure.

You'll have a very tough time buying one with an FHA loan since FHA has strict requirements (no peeling paint, handrails, etc for other safety items.)