I've looked at the house and the 100' RV pad is 5' deep, comes with full hookup, water, waste, and two separate 50 amp hookups. 

This is more of a contractor question, which we'll ask as we dive in.

Once a house, fits the numbers you have set based on; down payment, reserves, taxes, HOA, Cap Ex, and mortgage, then you can download something from here to do a deep dive, I found a good rental deep dive tool on another housing website, and do a deep dive on the numbers and see if it is really worth it.

Jump in the deep end before learning to swim.

This guy is like a deep stain, you will see it again with time.

@Lawrence Horne dive in with both feet, listen to podcast, read books.

I suspect there could be an open ended one.but maybe some of the guys that are deep into this can opine here.. 

I would only recommend waiving inspection if all or most of the following is true:1) The price is right and the deal is good enough that even if the building has major mechanical/structural/physical obsolescence issues it's still a good deal (and you have the money available to make the necessary repairs)2) You're planning a major rehab anyway, specialize in this type of property, have a lot of experience and have padding in your rehab budget for unexpected issues3) You have deep pockets, just really want the property and can afford to take a big hit4) You already know the property and it's potential issues because you live down the block, know the property well, know and trust the owner/manager/tenants, used to live there, worked on the property as a tradesperson, have solid inside knowledge etc. and have money to make the unexpected necessary repairs5) You like rolling the dice and have money to make the unexpected necessary repairs6) You're a savant in all the trades and can see through walls and dirt as well as predict the future and have money to make the unexpected necessary repairs7) you have money to make the unexpected necessary repairs

Because what is a good deal for you could be a bad deal for them and vice versa... spend time to think about "why" your doing something and then the "How" will come after you know your destination.. many people (myself included) just jump in and figure it out as you go.. the problem is thats like jumping in the deep end of the water and then deciding you will learn to swim..

I'm new to the real estate world, but happy I'm finally diving in.My original plan was to wholesale, as I don't have the capital to purchase and rehab properties, but the more I read/learn/absorb, circuits in my brain connect the dots and I realize different ways of doing things.