It adds another level of negotiations and is a pain for sellers. 

Also, if you end up having to evict a tenant from that apartment, it's an extra pain if the apartment wasn't legal to begin with.

Main stream media [ie left side media] is going to push the recession narrative very hard next 6 months, they want pain so people do not vote for Trump.

I plan on doing it for a year then during that time see if I can learn the administrative side.

This additional layer of paperwork would be a pain, do I need to rework my lease to add verbage for a cosigner?

. - Only one heating system, so the bill is insane, almost 8-10k a year- water very expensive, not sub metered and a pain to do, tenants won't pay for it anyway, at 8500 / yr- Flood zone, needs flood insurance & crazy other insurance, totaling about 10k-11k a year- Deferred maintenance - needs roof, deck work, landscaping and some interior work. - No one buys it, it sits, they price drop to 1.6, now they want 1.4, but it is no longer on the market. 

Bookkeeping and incorporation costs are a pain.

Originally posted by @Lauren Havens: we teach a lot of classes about torture rentals.That sounds sort of painful. 

Here in NJ at one court house I frequent has a term associated with the probate ("Standard administration" or "Standard probate") are buzzwords that are used to convey that the probate has an estate attached to it.

But I'd recommend you do a walk-through of the units to ensure nothing crazy is going on before inviting the inspector in.And again, if this isn't an Administrative Notice of Violation resulting in an administrative hearing, I'd just let the sleeping dog lie unless your building is in tip-top condition.