The Cl-100 report also noted there was no active issues (ie. growing model or rot) and the moisture content in the wood was normal. 

For books, and audiobooks, I find a lot of the REI books to be a little dry.

Is it a simple cut and dry process with no adverse affect of taxing?

Completely demo the old interior, nasty dry wall, and false walls.

Where I'm located the housing stock is predominantly quads and smaller... and its almost all converted SFH that are 100+ years old to boot (translated = rotted sewer lines, knob & tube electric, lead paint, asbestos siding & pipe wrap)... all the things that say OPPORTUNITY... and I've been missing it for over a year!

Is there a possibility of structural damage ( stud rotting) due to rain pouring in through hole in roof?

That property you thought was a higher cap rate in another market not local to you is now a dog sucking the cash flow dry and you might even have to add money to it just to keep it afloat.These sellers tend to slam tenants in and there is no long term history of occupancy at the building and payments on time by the tenants.

With the dry ground and soil conditions, foundations tend to move quite a bit.

Side note; trying to collect a pet deposit from 5 year tenants who have already been there with a pet is like trying to stay dry after you jump in the pool.

The only thing I heard is the lender they had lined up saw in the MLS before they could delist that it was listed at at $3mil and said no.The lender could be using other peoples money, split that 25% commission with the agent, investors are hung out to dry, lender-broker say oh well that happens sometimes.