These concessions lower the cash needed to close and also lower monthly mortgage payments, which are usually the highest expense for 2-4 unit investors.

I would start here to see that people are coming to the area and not be as worried with why.I'd also confirm what you need to operate legally such as any permit requirements.

Quote from @Ryan Grise: Check your state law to see if there are specific requirements.

As you said most units would require renos to get the higher rent, do you have money for all the renos? 

Hello BP! So we specialize in higher end single family houses in great neighborhoods. We screen heavy and our tenants usually make great income, no criminal history’s, and are great tenants. We recently listed a prope...

I just cant find what is required of me as the landlord / seller.

If you take a loan out that is specifically used for a business expense, such as paying for a rental property down payment or rental repair, then the interest paid for the loan is generally tax deductible, regardless of the source.  

I even helped last time with taking care of the wasps nest but makes more sense to turn it over to a professional company at the tenants expense. 

We also had some exposed wires under the house that required some minor electric upgrades to bring to code.

A good developer will guide you through all the required steps and will warn you from the pitfalls along the way.