Looking for any suggestions, feedback, cautions regarding this potential deal:Very motivated seller, currently living out of state with health issues and is tired of trying to sell (we've been watching it for about 6 mos and had originally talked to him when he was at 80k)Originally listed at 80k, reduced to 65k.

I spent all of 2014 and half of 2015 learning and prepping my self mentally to take the first step into real estate investing.

,For the sake of your own health, sounds like you need to lighten up and hire someone to do the "worrying".If you have few units and a single missed payment puts you in difficulty, that I can understand. 

Vernon and Effingham, I do home health therapy and have always heard that it's hard to find quality rentals in small towns.I feel like it's a niche market that could be tapped into.

I find it difficult to figure out how you did all of that for only 30k but you did save a lot on sweat equity. my experience is, even if you do the work yourself, you still need help.if you pulled a permit, which I'm sure you did, I'm surprised the village let you do all of the plumbing yourself. that's definitely needed by a licensed guy and registered by the health dept (even though plumbing isn't all that difficult to DIY).great to live in a flip; just would take a while before it's functional to live in but definitely attainable with heat and hitting the local health club to take a shower. :)maybe it took him 8 months from beginning to closing. if it was an 8 month rehab, he definitely spent more than $30k in labor & materials.

Is there some health care law that precludes me from enforcing the lease provisions?

Our local Board of Health is saying they will not allow a shared well "Because we say so."

Health, fire, several tax authorities, building permit, land use review, insurance, your lender, the neighbors, and who knows who else will be inspecting this property and criticizing the idea. 

I'm currently in the market for a primary residence (in Austin, TX) and I'm going in with the mentality of buying a fixer upper, executing a rehab, then potentially rent/sell in 1-2 years (potentially using a FHA 203k, but can do conventional financing as well).

Without specific information otherwise my opinion that city air quality that would be most detrimental to your health would be from small molecules that are challenging (expensive) to remove.