I acknowledge that this report shows a no-go deal.I wanted to get feedbacks from an experienced person on this forum to help me use this example to reset the criteria.

When she cashes the check, that is acknowledgement of receipt.

My understanding is that I can fill out an improvement acknowledgement form and get the finished basement permitted within a year. 

But he's had a lot of great "do with this info what you will" kind of advice, mostly in the form of either supporting or cautioning things I bring up, about contractors, seriousness of the issue and acknowledgement of the profitability of the property.  

It is wrong to not report or acknowledge defects.

The notice says this (along with a bunch of other stuff):NOW, THEREFORE, in consideration of Ten and No/100 Dollars ($10.00) and other good andvaluable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties herebyagree as follows:My question is....I was never paid $10, but I signed the contract.

I would not acknowledge the renovation noise if it was not unreasonable or excessive. if it makes it easier you can tell them that you were going to raise the rent to $40 and choose to only do $20.

Thank you for you acknowledgement and hope to hear some responses so I could get to work :)

The realtor, who's actually a very good guy, acknowledged there were some issues in the area, but as he correctly pointed out, people who invest there are used to it. 

There are probably more who are ashamed to acknowledge having been duped.