This will elevate your stature as a professional and open up a lot more opportunities for you to monetize deals you can’t buy or wholesale.You should talk to a real estate attorney that works with investors in your area to ensure you are in compliance with any laws.

You should talk to a real estate attorney that works with investors in your area to ensure you are in compliance with any laws.

Most importantly you need to convey confidence and assurance you are a player and not just wasting their time.

If this means you want someone to inspect the property and get more info from a seller, it may make more sense to hire a Home Inspector, who also has knowledge of HVAC and can also inspect roofs and be able to give an opinion on the structural integrity of the building (water drainage, cracks in foundation walls, heaved concrete flatwork), plus can also take a look at plumbing and electrical to look for issues and code compliance issues.Unless you need a BPO/CMA to confirm market value, not sure a local agent will be a value-add to you. 

The bonus of a condemned house is that condemned houses have a list of what needs to be fixed to no longer be considered condemned.I realize plenty of people are silly and underestimate the work or plain disgusting filth involved, but I can assure you I am not one of them.

You could borrow from relatives, they would have a measure of assurance that the money would be safer so long as you run your numbers right and never have to tap it.

I would let the tenant know that you appreciate they have been in the home for 4 years, and certainly want them to remain - however, you need to run your rental business in a way that is in complete compliance with all local, state, and federal laws.

Wyoming LLC hereby guarantees that their approval to allow their employee, John Smith, to make repairs to the wood floor of the new owners is in compliance with the rules, regulations and laws as enforced by the Public Utilities Commission of Ohio.I could go on but you get the idea. 

At $1500, I might not be happy enough to go through the hassle of Section 8 added compliance. 

I had one renter who started to give me a little trouble ....after consulting with the previous owner, she assured me they always paid.