Assuming this strategy works for your finances.Some other factors to consider are how well they take care of the unit, whether they are on fixed income/ability to pay more), your views on affordable housing/social justice, current market conditions (right now seems good for attracting a new tenant), and whether the property still cash flows or works at a below market rent.  

We have some experience with SFH's and duplex properties but have not done anything outside of residential until now.This property we are looking at has major roof issues that currently make it unsafe, but the rest of the structure looks like its in decent condition, I mean its an old brick building.

Talk about the condition of the house.  

I live in Leavenworth WA and my husband's uncle just moved to Richland from the Bay area and is loving the change in pace of life!

This is more life advice, what do YOU want to do with your time?

If your development consist of individual housing structures, simply calling 411 may suffice.To determine the subsurface soil conditions, you will need a to involve a geotechnical engineering firm. 

I have been a entrepreneur my whole life and I am choosing Real Estate to be my profession. 

We're very interested in your home but can't make a fair offer without knowing what condition it's in and what to value it at.

Market cap will fluctuate based on supply and demand primarily, then on condition, desirability, local economy, and other similar factors.

I am wondering, If I go under contract to buy a foreclosure property in "as in" condition, and no contingencies.