In addition, you'll want to be sure of what restrictions and easements will survive the sale and you would take title subject to.I'm not an attorney and this is not intended to be legal advice, it's my opinion based on my years of handling title insurance claims across the country for various underwriters.  

In 2015, there was a quit claim deed for $100 (does that mean he got the house for $100???) 

If not and people with an inheritance claim can’t be convinced to “sign away” their claims, you might be looking at 2 years of probate court.IF you are able to determine that this person has sole and legal title and can deliver title at his will (some title restrictions grant title to someone only for their lifetimes, known as a life estate), then you will need to determine much more specifically exactly what distress he’s under.

Examples- if the roof is more than half its life, they may either lower the purchase price, make an insurance claim to replace the roof before closing, or pay for it themselves well after selling via warranty clause.

They claim they have repairs to make.

The leftover money will be used for a property I have no legal claim to.

Many times they will claim it's wonderful and then try to hide their worst deals by only showing completed deals.

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Google Clayton Morris Scam and/or Morris Invest Scam for a cautionary tale of what not to do when buying turnkey real estateUnderstand you can not eliminate all risk, only mitigate it.

@Noel Lopez I would not advise that you take the route of closing in personal name and quit claiming to LLC after wards like many people on BP advise.

Here's a list of what we ask for in our LOIs and contracts:Operating financial statements for the property, including income statements, expense statements, capital expenditures, for the last two years of operation and year-to-date financial statements for 2020.Prior two (2) years tax returns and addendums for the Property.Current tenant leases, tenant correspondence, tenant credit information, tenant security deposit register, and delinquency report.Onsite staff payroll records to include salary, bonuses, payroll taxes, benefits, etc.Monthly owner statements and rent rolls for the past 12 months.Contracts, service agreements, and files pertaining to the property.List of maintenance all maintenance requests (complete and incomplete) for the last two years of operations.Real estate tax billings and assessments and other correspondence pertaining to real estate tax calculations at the property.Copy of Insurance Policy and claims documentation (loss runs).List of capital improvements and any and all necessary related documentation and warranties.All existing warranties and guarantees from architects, contractors, and material and equipment suppliers, all of which would be assigned to Purchase.Any existing environmental Phase I/II reports, engineering reports, soil, mold, radon, asbestos, hazardous substance, termite, or other tests, studies, or reports.Any existing appraisals.Itemized inventory of all personal property.Twelve (12) months of utility, water and sewer bills.Twelve (12) months of bank statements.Verification of additional income from operations including but not limited to application, pet, late, and other fees, etc.Copies of title policies, title reports, land surveys, site plans, deeds, or any architectural plans for the property.History of or pending litigation against the Property, its owners, or its managers related to the Property or the operation thereof.Such additional information, documentation, or access as Purchaser shall require