Most of the real health/property issues come from MMJ businesses, which in WA operate with an unfortunate lack of regulation.)

A house that old you also have older ungrounded wiring and cast iron plumbing drains to worry about.

It's into this that I plug 'actual' repair costs, etc...The property I just purchased (for the purpose of hold & cashflow) had completed since 2010 the roof, windows, siding, electrical, plumbing, including hot water tank, new service from BC Hydro as well in the last 4 months a new bathroom, floors, fence and completely repainted.I know that the envelope (roof, etc..) will now last 25 years, the hot water tank 7-12.

During some research I have came across Dodd-Frank and SAFE act regulations with seller financing.

A beginners book is not going to go into the legal perspective very much, as much of it will be state specific and many new regulations have come out recently. 

I saw one go for 90k that was all fixed up with new plumbing and electrical. 

My question is whether or not forms like a pet addendum, rental application, carbon monoxide/smoke detector acknowledgement etc. are state specific - I know the residential lease is subject to certain state regulations and will be asking an attorney about it.

there is a realtor in my town that has a house that she will rent to owner to me but the house need a roof,electrical,drywall plumbing, painting, new kitchen sink & windows. the asking price is $15 thousand also she want $500 down an $200 a month. all this work I can do myself I am estimating that the material might cost about $5,000 to $7,000.

I would at least create the space & run the plumbing for a dishwasher.  

There were no interior finishes and no plumbing, electrical or mechanical systems.