As always, seek professional advice.

The guy on the lease sleeps in the living room and rents out the other 2 bedrooms for $450/mo to other college students and I do not think he has consent of the landlord.

Being cleanlier than your neighbor generally does the trick with rodents if there is not already a problem in place.If it is a one time thing I would not worry too much about it, but seeing that invoice may help you sleep easier.

Generally speaking, cash upfront is a scam used by professional tenants to put landlords into ugly situations.

I want to come off professional once I finally do find that deal where the numbers work.

Readers are advised to seek professional advice.

Buying a non-performing asset (an asset that generates no income), that I am only going to sleep in that sells for 6, 8 or 10 times the average income in a particular area, is not something I thought was a good "investment" in 2006, nor do I think it is today. 

Not good if the other tenants are sleeping. 

Sure, it may go well, but if you fall on your face it could ruin you, and you need to learn enough about the real estate game to make sure you aren't making a mistake or getting sold up a river when you buy.Watch the podcasts, read some of the BP books on the subject, go to the local meetups and talk real estate with other local investors and industry professionals, read the real estate news, do your own anaylsis, etc.What you don't know CAN hurt you in this industry, big time.

We offer the Professional Housing Provider designation of National REIA to our members.