Lastly we will visit 120 acre parcel that we have a Loooong term option on that sites right across the street from the Urban growth boundary and city limits and is within 2 miles of Intels 10 billion dollar fabs and all sorts of other industrial ( largest tech employment center in Oregon) and this one we will do a deep dive into how you set up these very long term Options that once the property comes into the city it will be a life changing event for the partners and how some of the partners have used their Roth IRA's to pay for their yearly option payments and ownership interest  IE got into the deals before they were 30 and will end up with MILLIONS in tax free profit before retirement age their retirement is set without having to spend one day managing any type of real estate this parcel is dry farmed yearly for grass seed so don't even have to mow it and we get enough income to more than pay the property taxs but not the option payments.The bottom line is BP Con and BP members put us over the top in raising funds for our home give away to a deserving first responder.

When that federal funding dries up, I'd be curious how many can make the rental payments. 

Be aware of wet, bubbling, spalling and flaking drywall, its likely filled with water and if abondoned for awhile, the structural members are rotted out.

It's dry but I'm pretty sure it was mold.

But ,we're not going to leave you high and dry!

Personally,  we do C/D rentals, and you can take people to court, but getting water from a dry wall is pointless IMO.   

TLC--hidden liabilities like old dry cleaner sites, up-to-code-issues (sprinklers?)

How do colleges and the govt look at finances when household income is not cut and dry W2 income?

This, supplemented by your HELOC, will give you plenty of dry powder to work with when acquiring the property. 

They do regular home inspections, new construction and pre-dry wall inspections as well as radon, termite and septic.