Water Damage is excluded under the Basic Form.If a vacant property is neglected by a property owner or manager, substantial mold growth may already be present by the time a water issue is discovered.

There are 5 vacant spots but we have discovered the following zoning code:"Nonconforming mobile homes once removed shall be replaced within thirty (30) days of removal or forfeit nonconforming status, and if replaced shall not infringe on established setbacks, and shall meet in full the requirements of section 6-1 of this ordinance.

So studying about all sorts of financial planning and investing would be wise.

I'm a newbie from Lehigh County Pa,  My wife and I have been studying this site among other and doing a lot of research on investing in our surrounding areas. 

I assume you have studied your state landlord tenant regulations in which case you know the rights of your tenants regarding inherited leases and rent increases.In your situation I would give notice to raise rents on all M2M tenants immediately.

I am interested in and have just begun to study how to get started in commercial apartment investing.  

He even measured the railing on the balcony and discovered it was not up to code.

It is good that you are studying and ambitious.

If that is the case, I'll work with the numbers until I get to a purchase price I like (or find an issue that stops me), and then go from there.I'm looking mostly at MLS properties at the moment... so I'm with @Brandon Turner  (from How to Buy a Small MultiFamily Property: A Step by Step Case Study) The List Price: For 99% of properties I find on the MLS, the price is far too high and not worth it.The Ideal Price: For 99% of properties I find on the MLS – there IS a price that would make it worth it, and I like to find out what it is. ...Hope that helps!

Prior to my market study I thought Hollywood would be a great idea because I am always going out and see a lot of young professionals and those in the entertainment industry in the scene.