Bad strategy as waste of time and could lead to mugging.2) Are the plumber, electrician and handyman properly insured to protect you if they get injured on your property or injure a tenant?

A good lender is worth their weight in gold.

Have you been in or heard of similar situations where (let's say) the PM probably should have been liable, but is not properly insured, so that lawyers try to get settlement out of a less liable party?

Upon closing you will notify the tenants that they pay you, You can get a lease ready and give the proper notice of new lease.

As U state these are small business enterprises and underfunded or not properly capitalized business are prone to astronomical failure rates.. 

As long as you do proper maintenance on it and get it cleaned every year you should have no problems with it.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

However, lender will want to underwrite anyone with 20% ultimate equity and you need to follow proper SEC laws if you are bringing in passive investors.

They submit their findings through an app called Properly so that we can keep everyone accountable.  

.- Main beam twisted and loly columns - bones of the house and that worries me- Back wood stairs that lead to backyard from 2nd floor are not properly attached to houseSo far Im bringing (2) more GC to provide estimates for repair of 3 items above and then go back to negotiate with sellers in this crazy sellers market :S.After this intro I wanna ask the community if you have any experience negotiating with issues above?