Low Income affordable housing - tend to be rougher on the units, they get a basic 1 tone paint, inexpensive flooring package, no disposal or ice maker or dishwasher - Deep Clean and Safety is my concern. 

We are officially moving forward with the purchase, and I must say, it's been an unusual journey.After a series of twists and turns, we have successfully negotiated credits for several health and safety issues identified by the previous buyer's inspector, which need addressing.

So don't be scared of the Shand's area, just enhance your units for the safety of the nurses. 

He did, though we ended up having to move the door to the new unit to satisfy his safety concerns. 

There are a lot of smaller inspection issues we see pop up as well that generally speaking aren't "Major" but can still be considered a liability or safety issue in a rental and need to be addressed.

I heard that families with small kids prefer one story homes because of children safety, that is why I am not sure if investing in a two story home is a good option even if it may be a less expensive option.

Human safety and property security always overrides economics.

Second: You will need C) Executory agreement (add clause that if you default on the payment, seller can take back ownership D) In addition, a purchase an sales agreement reflecting the subject to the existing mortgage note, under the seller's nameGet title insurance with the seller as a secondary in addition to the insurance already on the property.The purchase agreement reflecting both the equity payments and mortgage subject shall be executed and held deed to property, via this hybrid transaction be transferred into the buyer name..The deed, instead of being recorded at the registry, triggering a potential risk of a due on sale clause, shall be held in a mutual accessed safety deposit box along with the executory contract.

Obviously, you will need to deduct for repair estimates and "safety margins" plus other expenses you will encounter."

While I’m not a lender, you may be able to get a debt service coverage ratio (DSCR) loan with a less-than-stellar credit score, as long as you can demonstrate that the cash flow generated from the property provides a wide margin of safety for the lender.