It would produce about $593  in net monthly cash flow, I would not have to put too much work into it, and since it is walking distance from a University it would consistently remain rented (I see this as the safer option).The Second: Is a fourplex which is currently 100% rented.

I bet you'd be good at flip projects too!

Figure out who you want to bet with on that one. 

I bet you know a pharmacist John M.?

Your best bet is probably to reach out to the city that the property is in as this is probably a case-by-case situation.  

Are you saying it would be safer to run the planks under the sheet rock 1/8"+ ... just in case of my entire floor does shift to one wall over years?

Finally, instead of saying here's your money back, I'm not renting it to you, I told her I just got the property, and found I have a few more things to do to the apartment, some of which to make it safer, and suggested she find another place on a higher floor.

@Bob Hucker  We did not have new wire run to separate the fan from the light so for now the pull chains will be used to start the fan but I bet they will be used only once in a while as our weather is pretty consistent.  

You bet that is whats going to happen. a lot of lumber we use actually comes from Canada, so there will be a change in pricing if he does that.

Your best bet is to find a quality contractor in your area to have a look and give you options based on your particular situation with the house and the budget you have to work with.