As an investor-focused agent in the Cleveland market I always have my clients write the following contingencies in when buying a house that's tenant occupied:1) Offer contingent on home inspection- usually a 7-10 day contingency period, this contingency allows you to either A) move forward with the deal B) renegotiate the price if issues are found, or C) walk away from the deal2) Offer contingent on appraisal if you're going financing3) Seller to provide copy of current lease agreement4) Seller to provide a rent roll/tenant ledger with proof of payments received5) Seller to provide copies of 3 previous months of any utilities paid by the landlord6) Seller and tenants to fill out Estoppel Certificate.

Ryan,Thanks so much for the response, can i utilize this if i am not currently renting the property out?

Keeping this as a rental would not cover the mortgage (we'd have to pay ~1500 a month including utilities) and we can afford the extra payment, but is it worth it when looking at appreciation?

From there, you can utilize that team to gain experience and understanding into the market.  

Utilities are absent.

Looking for some understanding about because of my planned exit strategy.I have some questions about: 1> Cash Out Refi LTV: Single assets versus multiple properties2> Terms and best practices:3> Utilizing a Realtor4> Personal Guarantees: Stabilized/ Performing vs Personal creditSet up:Utilizing non amortized seller financing to acquire the property @ 35000/60 months.Rehab Estimates are not in in yet the property.

The students pay their own utilities.

Leverage is fine, if it's utilized appropriately.

And these two are actual real estate ownership.In any of these you can utilize a 1031 exchange so you don't get trapped into that depreciation recap and tax on gain. 

Planning for potential infrastructure issues is essential, especially when dealing with properties that may need upgrades like connecting to city utilities.