Statistically insurance companies know older buildings have more things fail and have more claims happen.Some investors just get fire and casualty insurance which can be cheaper sometimes.

If he fails to pick up his stuff after notice and time to get it then you can dispose of it and use those funds.  

Also always have contingencies in your offer, so that if everything fails, you can still get whatever good faith money you gave them back.Good luck.

Took a long time for me to get past the jitters and nervousness of failing and just not knowing everything before starting.

After reading all the threads, I failed to see a convincing argument for using cash for keys method.  

If the hot water or heat fail, you can send all of them to a motel or reduce rent ... etc.

I can't determine the premium that should be paid to walk through that process for a novice who doesn't want to fail in their transactions going it alone. 

The penalty for failing to report is much smaller and defensible.

They are being set up to FAIL!  

Adrien Schebott, you could always agree to subtle renegotiated terms by amending your agreement such that the tenant gets another 10 days to complete a purchase in return for you getting a property inspection should he fail to close.