If you see a falling inflation adjusted per capita income, you need to carefully consider the long term risk associated with buying a property in that location property.MaintenanceSome of the major factors for maintenance are:Age of the property - the older the property, the more maintenance it will require.Climate - Moisture and temperature are both major factors.

It seems like the do not have anything they can offer without an excessive amount of fees.

In NYC rents in excess of $10k are not uncommon.

As always check with your accountant but here are some things to consider in your conversation:if you buy for a dollar you will have no depreciation and the market value of the house in excess of $14,000 becomes subject to gift tax.  

The tenant may also recover costs and fees, including attorneys’ fees, if the amount awarded by the court for utility services is in excess of $3,000.00."

On this topic, if the interest rate plus points is in excess of the state usury limits, then a lending license would be required and as such, a hard money lender would need to be used."

I have an unfinished basement that we noticed has some mild to moderate levels of moisture on some soil/dirt on the floor we just discovered.

Mold can be a little trickier as you have to figure out where the moisture is coming from. 

That’s the easiest way to face penalties in excess of the total security deposit. 

If they were deteriorating, with moisture getting through the grout lines (if tile walls), they will continue to deteriorate behind the shiny new paint.A potentially bigger issue is the overall age of the tub/surround/piping.