My biggest concern with this property is the yard is fenced in, but the fence along the backside of the property is one of those big cement walls that has a busy interstate on the other side of it.

You want to make sure it's a good deal now and any further appreciation is icing.As far as negotiating is concerned I would listen to your own voice not that of the agent. 

Hey BiggerPockets family, I am analyzing this wholesale property as a potential fix and flip and I am pretty concerned about the foundation and exterior brick wall.

So, I got a problem that has been concerning for a while.

In my area of the country, the chance of an owner with a small number of properties facing consequences of choosing not to rent to unmarried couples is slim to none...people have larger concerns.

If they are built to code there are no concerns.

Municipalities are sometimes concerned about setting a precedent and this is a way that some try to work around that.Hope this helps,

My biggest concern is just the fact that we might not officially go under contract on the house we like best until a few days after we close on the first one in a few weeks, with our FHA loan, and we definitely won't have 20% to put down on either. :-/  Definitely appreciate your advice and will see what we can find out about investor friendly loans with our broker.

My concern is the $20,000 in arrears, is there anyway around paying it?

The tenants are all lovely people, though they seem to be concerned about 1) the condition of the garage, 2) the fact that the windows all let in cold air (by the look of them, they're probably as old as the building) and 3) the lack of landlord response to their multiple other (small) concerns about the property.