If you cannot recoupe the money put into property through the cash flow in 5 years or less or by refiancing after work performed it would be to risky of an investment for myself. 

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. 

"Pet rent" is a little more grey - the Residential Tenancies Act does appear to preclude such additional rent amounts, but the practice is widespread and, thus-far, the authorities appear to tolerate it.We only allow pets in select buildings: either ones where we have inherited pets and have yet to perform any substantial retrofit or where the building was renovated with pets in-mind.

Like others have mentioned, mobile homes are low income housing and as long as people live on welfare, minimum wage, social security, etc.

I found my calling with financial investments (securities, including those related to real estate).Somehow I had the foresight to buy a home early in my corporate career ("buy the biggest house you can afford because housing prices will always go up, the balance on your mortgage will always go down, and your income will always go up").

Should the offer price reflect the future rent potential, or the past performance? 

Each party shall cooperate with the other and with the qualified intermediary to accomplish such exchange and shall perform any acts and execute any and all documents reasonably necessary to assist in such exchange, provided that neither party shall be required to accept title to any property other than the Premises, expend any additional amounts of money above those amounts for which it is obligated under this contact or extend the Closing Date, and Seller’s time to close under this contract shall not be reduced."

Also address her security deposit as being forfeited due to trash, dirty conditions, damages what ever.

We ultimately came up with a finance and investment strategy for the area to secure property and develop a track record. 

What happenes to the security desposit?