It sounds like you're in a solid position to start investing in real estate!

I recently paid $50K for access to a “tribe” where I, as a complete newb with no relevant industry experience at all, was taught to stand up a webpage touting the benefits of multifamily and then come and start posting here.I was taught to attempt to attract money from people like you who have recently come into a large pile of wealth and have no plan whatsoever.What I will do is take your money, and give it to this random other person in my $50K mentorship program who also has basically no experience raising and deploying capital.When I give them $100K I have raised from you, I will be given a 10% finders fee of $10K.

In MA that is now commonplace to waive inspections which is mind-boggling in some of these older homes but it's working for buyers.I'd never advocate completely waiving on the buy side, just too risky for my blood but on the sell side its like Christmas morning to see a waived inspection.

It is my belief that meeting both those criteria is tougher than it sounds.  

My LLC (hubby and me) stepped in when she invited for partnership and paid for the rehab completely.

A quiet title action takes several months to complete in my state.

Didn't sound like he did any depreciation either.

Sounds like you plan to renovate when they move.

As stated, it sounds like the floors were installed before they were exposed to the local humidity long enough.

While the issues you mentioned sound completely fixable, it's a big red flag that it failed the fire inspection.