@Derek Caffe Aside from infrastructure , mechanicals , physical inspections , be sure to review the zoning/permitted uses and what you will need to bring to current standards if you are modifying it along with a survey and phase 1 inspection.

For mechanical subs, we pay after they pass their city/county inspection.

Those which are eligible for these programs are vacant/abandoned, vandalized (stripped of mechanicals, plumbing, electric) and are in need of more repairs than they are worth if someone were to buy them from the owner due to the amount of back taxes due.

any property that @Engelo Rumora sells to an investor and maintains through his property management company receives a 1 year maintenance guarantee that covers all of the mechanicals of the property (water heater, plumbing etc) as well as a 1 year placement guarantee, not 2.

I presently have a contract with a seller on a home and going through some inspections of the mechanicals and well system.

So keep it safe, pay more for quality, do all heavy mechanical up front and factor it in your costs to avoid costly HVAC, elec, roof, windows, plumbing later on.  

Upon inspection, the house passed with flying colors, I had a structural and Mechanical engineer's letter deeming the home safe.

And yes is you buy a junior position the other mortgages senior to you stay in place but the IRS goes away as stated.. its the first in time is first inline ... so say you bought a second TD and there was a first td and a few mechanics liens filed before the 2nd was filed then those stay.. although rare because the second usually wanted title insurance and would not fund with liens in front of it.I loved Trustee or Sherrifs sales when IRS liens were there.. it scared all the newbies away.. and or those that had to back fill with a loan ASAP and could not wait out the 120 days.

I'm a 25 year old full time project manager and part time entrepreneur with a background in finance and mechanical engineering.

We are mostly interested in Buy and Hold Investments, with an emphasis on multi-family units, but we are also considering the occasional flip when the market is right I found the Bigger Pockets podcasts on YouTube and am hooked, I'm so excited to have access to such an awesome community, especially being a newbie!