Counters are a bit strong/dark. ) Wonder why he did not install washer/dryer.Other:) Built 1964, I'd wonder about the HVAC, insulation, plumbing and whether the major systems are recently redone (when).

I just put in $20,000 new sliding, $5,000 new electric box and wirings, carpet, water heater, new paints, new fridge, new vapor barrier and insulations.

Pay a couple thousand to insulate the shed and simply run drop cords from the house and live out there.

To insulate liability between all my assets, I am not putting multiple properties in the same LLC, so I am creating a new LLC per per property.Except maybe for CA where LLCs are expensive and the use of trust is probably a good option, I am creating the LLC in the state where the property is located.

I bet all those owners once thought that everyone needed a place to live and that apartments were insulated from cash flow problems.  

Asbestos can be in everything from pipe wrappings, to insulation and tiles. 

Start with taking off the drywall in that one wall take the insulation out go inside the attic and find the leak if it's a small pinhole leak put a pipe clamp on it save you a lot of money and time a bigger leak you can probably take care of it couple hundred bucks if it's PVC pipe do it yourself cut the water off and replace it...

I hear you.I have been buying distressed real estate for 40 years now.. so I understand the moral struggles we go through.. one reason I like buying vacant foreclosures and off of auction . com your insulated your making your best offer and off you go.the second your talking to a home owner and you know the house is really worth 100k and your trying to snag it for 70k I just find it hard to equate that to doing the moral thing.. :)I had a good friend who wanted to go back to work .. very deeply religious.. and I said well lets buy foreclosures in Bend he last one day.. he said I can't do that I donate to the church to help people keep their houses and can't very well buy them..