In researching properties today, I found a number of examples in the seattle area where multiple separate buildings on one parcel are logged as "present use" with the total units.

Not enough current income to move the needle, but all the knowledge required to learn and, if you're self-managing, the always-present "the tenant could move/break/have problem any minute of the day" possibility. 

@Shawn Tuma how professional do you want to present yourself?

Hey Sam, I think you need to first  establish what it is you are looking to accomplish and then present it to a lender accordingly.

Good day, Derek,Based on what you have presented this investment appears promising, offering a strong cash-on-cash return and ample opportunities for value creation.

But claim they live 2 hours away and won't be present to show it.If we want to move forward, then he will quit claim deed it over at the courthouse.  

I would include in your future offers that you want sellers to show proof of lead cert, if not have them pay for it as a part of the sale if it is not present. 

It comes down to what your pro forma is, and what lenders are willing to lend on the property.75k per unit for 550 in rents in Dayton is probably over valued, especially if there is deferred maintenance.

Is it industry standard to use Passthrough's, as the fee's collected for certain item's are simply collected by the management company, then paid directly to the property management company, making the transactions net to zero for presentation?

For what it's worth, we spoke on the phone for about an hour after I presented my offer to her.Any feedback would be greatly appreciated.