You also need to ensure that they allow rentals. 

Again, I don't have a large amount of time to spend managing the investment (or searching for it), but I can do some analysis to ensure it appears to be a good investment in terms of area, yield, etc. 

I will ensure to add that additional cost into my analysis. 

Hey @Andrew Laurence - the other comment already mentioned this, but ensure that you vet your builder and their previous work quality before pulling the trigger. 

At the end of the day, I understand the goal of the city's programs (ensure landlords aren't slumlords), but typically they are just a formality which is the real problem, in my opinion.

This includes ensuring that the building is maintained well, heated, cooled, etc. 

How do you ensure you are offering over the mortage balance...my thing is - is the lender still holds the title how can you have an agreement with the occupant on the sale?

Pricing is important but I am willing to pay a little more for higher quality answering to ensure I get the highest ROI on my marketing campaigns. 

You could also ask for a set amount of funds to be placed into escrow (for a set amount of weeks after closing) to ensure the repair(s) have been made properly. 

Even though they are the expert, you still need to ensure they are a good fit for you.