The will look if the wire are grounded to prevent Fire, tied to the stud to prevent wire movement, Plates to prevent nails into the wires. 

The Goal: My sister and I have a property tied up with the (possibly harebrained) plan to clean, paint, carpet, create an unpermitted “flag lot” with fencing, and fix a plumbing issue (10k), place tenants ($1,350/month.)

:)https://www.roofstock.com/investment-property-details/texas/5585-scenic-dr-beaumont-77713/1717037Many thanks in advance for any responses, again I'm not coming at this from a "I'm going to buy this and want someone else to tell me it's good/bad", I'm more interested in what people's thought process is when assessing Roofstock properties, and it will be super helpful for me to be able to tie that to a specific example.

The more desperate you appear, the stronger his hand. 

Adding square footage (or maybe an ADU) would certainly fetch more rent, but at the same time more money is tied up as well for new construction and more of my time.This being my first time ever experience with major construction and the payments for two houses in northern California, recession looming in near future I can’t seem to make up my mind.

If your friend want to sell it for $350K, it is because he wants the money in his pocket so to speak and won't want it tied up in your property.Go with option 2 but check with your bank to see if they will lend you the amount and what you need for a down payment.doing a private sale will also save your friend some money as he won't have to pay commission to a realtor.

I think this again ties back into having a strong code of conduct outlined in the lease language, but I imagine you have some experience on maintaining/setting boundaries on these types of relationshipsThanks again!!

You do not want to tie up their property for a month without helping them. 

When you use your HELOC you have tied the two properties together until you can payoff or refinance your funds on the investment property. 

So even if you pick a state with stronger protections like WY or NV, the cause of action arose in the state where the tenant fell, so likely that the court where the accident happened would have jurisdiction.California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so that you as a CA resident are covered, and to try to have your contracts fall under the purview of CA courts.