Have inspection this week.

During the feasibility period I'm planning on conducting the usual due-diligence with a thorough inspection of all the property's systems and structures (utility services, roof, HVAC, maintenance history, lot survey, tenant interviews) along with a Phase 1 ESA. 

One other incentive to get the deal accepted was we put in our offer that the inspection was a pass/fail, aka I wasn't going to nickel and dime them to get the price down for minor issues.

I find that 2-3 listings for every 10 are being listed at below market price.Besides leaving contingencies on the table - inspection, appraisal etc...

The owner is allowing me to do a full inspection, where I would be sure to include a test for meth. 

If you're just starting out, you may want to visit a few mobile homes for sale and inspect them before settling on one to buy.

However, the appraisal came back low, and the building failed one of the inspections.

An in person inspection is really the best indicator anyway

Challenges:1) An LO won't exempt you from any rental inspections/repairs, as you are technically still the owner2) Don't assume buyers/tenants will take better care of the property.

As long as you have a professional management team and you have professionally inspected your property where all "4 points" are in good shape, you'll be fine!