This side is in pretty good shape and wont need any work done while this tenant is renting.

I won;t let anyone steer e

I'll have plenty of stories about the old man to share so I'm confident it wont come off as me just having an agenda. 

But if they don't refinance and leave the home destroyed after only 3 months you will most likely lose depending on the size of downpayment you received. 

While it does address the tax problem, it creates several other problems:your capital is tied for a yearyou become a landlords, with all related headachesthe tenant can destroy the property into which you just poured cash for rehaband more 

If the AC still works, and the seller wont negotiate price, you may be able to back out, if the deal isn't strong enough for you.   

Some people genuinely don't care and will destroy houses and not pay their rent - those are the primary red flags.

Lifting a house to replace termite destroyed beams is pretty hard and expensive. 

Wont be in that area until December/January.

On the tail end we had a pipe bust in the attic which flooded all the way to the ground floor, essentially destroying the new drywall, paint, and several light fixtures.