This paying of rent condition does not contain any ambiguity.

The rents are at about $2800 currently, but market prices show I could raise them $3600 or more - one issue is whether the current tenants will leave (they are not under any leases).I got the inspection done, and there are 4 major things I need to get fixed.1) There are 2 chimneys in terrible condition.

Modern major systems (roof, A/C, plumbing, electrical) will stay in better condition longer than in older houses.

Hi Laura ,That will depend on you overall financial picture and investment goals, and the market conditions in the area.

After closing we had our contact go visit the house ytoo see what condition it was in.

I found a triplex for $109,000, with lots of potential, however due to it's condition financing is not available.

I want to buy small rental houses in good condition to rent.

Also, at that price, HVAC should be in new condition and so should the roof.  

Overall the house is in very good condition in a nice neighborhood.After speaking with him, he owes $30k on the loan and wants to sell the place to be able to pay that property off as well as his primary residence, which I believe was around the same amount owed.  

What if instead you bump purchase to $105K on the condition the seller put $5K into an escrow used to pay your septic guy (attorney holds it and releases to the septic guy).