Hi Adam,Congrats on looking at your first investment! 

I’m also nervous that while they are at the property they will insist on looking around the building and might spot additional code violations?

That's an open-ended question but for me - and I invest in mostly C-Class - prior to buying I look at:-Crime-Mapping (one can also call the local police dept. and ask about the property in question - they'll connect you with an officer who works the area and can give you the reality of the crime and if it's getting better or worse)-Literally drive to the property on a Friday or Saturday evening and sit in the car for a bit to get a feel of what goes on-Look at the rents.

What form or work sheet would I find it onLook for "Depreciation Schedule" in the software, not Form 4562.

@Cameron Tope Great point on looking outside the loop.

I’m new to the world of real estate investing and plan on looking for other ways to find deals besides using the MLS system.

That's a very interesting take on looking at grades to assess risk, not a bad idea at all as there is likely strong correlation (not always but certainly often).

With $750-1M  you'll definitely have some options in some of the nicer areas on the NW side, is that where you are planning on looking?

Also that is exciting you are on looking at rental #4!

If they want more than it is worth for that property, tell them this is as much as you are willing to pay, whatever that number is, and keep on looking.