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!

., and fix the necessary items that will fail inspection.

An onsite inspection is also required for any loan extension.

I prepared a draft purchase agreement that includes the following sections: property info, sales price, closing info and earnest money deposit, home inspection contingency, prorations of taxes and rent, risk of loss for damage during sale, possession when title transfers, closing contingent on clear title and no unpaid taxes or utilities, property sold "as-is," and transfer of rental documents and security deposit.  2.

I  used Home Depot's Web site to select the doors I wanted and also used the Homewyse website to get a second set of numbers, and they came both pretty close to each other at $1800 products and $1300 labor.I then contact Home Depot to get a person on site to inspect and take measurements, and a couple days later I get an estimate with two sections: Customer Pickup #1 for $2695, and Installation #1 with $0 total.

And Dairyland Home Inspection LLC for the thorough home inspection. 

Or just get the city to come out and inspect and give the thumbs up.