If it's a dump, but it's a dump they like, there's probably no harm in it and may even work out for you.

What's the harm.

Is it habitable? 

So no harm in that as well.

I am not familiar with the CO code, but I believe this is on the landlord.In Colorado, the Colorado Revised Statutes (CRS) include a definition of habitability and legal remedies for tenants living in units that do not meet the definition of habitability. 

So for your case, I'd say get in the habit of PMing all of your properties from the get go.

But making $13 an hour at his age while I make 170K a year  salary from my career and much more from my investments actually means something...Lowering the standard is like lowering the standard for people to become firefighters and police officers; it harms things it doesn't make them better....

@Kelly Iannone  & @Amy Beth - Following Dave Ramsey's principles got us into the habit of carrying cash. 

No harm in asking however it is voluntary on the part of inherited tenants to proved the info.

And develop a habit of strictly separating LLC/business money from your personal money.Good luck investing!