I hate to make assumptions, but it sounds like you're talking with your investor hat on. 

Evictions are always a stressful thing to go through but it definitely sounds like it was a learning experience.

It sounds as if the investor is providing all the capital and you're simply locating the deals.

Those sound like some serious and counterproductive restrictions.

It sounds like it would still cash flow at $65k-$70K with repairs.

It sounds like the terms of your option is basically allowing you to pay down the price at zero interest for3 years which means it is all going to principle.

@Tim Kaminski sounds like a great first deal to me.

thanks guys sounds like a plan.

Dear Mrs. tenant,We are excited to announce that our company is in the final stages of purchasing the building within which you reside, and I’ll begin managing the property on <date>.

They wouldn’t put a fire hazard in a 5 and 6 year olds class room where we live.According to your theory your tenants shouldn’t have a stove, hair or clothes dryer, or anything that could cause damage to your units it sounds like.