And as a follow up- Will applying for financing muddy the waters of ownership?

The land is just sitting there vacant and will require grading, a water meter installation, and septic to be added.

.$120 below market x 4 units x 12 months = $5,760 per yearIn two years, that's enough to add a roof, replace all the water heaters, replace a furnace or two, etc.I bet I'm being conservative.

We always explicitly request shots of the roof, HVAC, Water heater, Electric panel, and all major rooms, exterior, and the neighborhood. $25-28 a job.

It has sewers, but no water.

For example, last year I saw a terrible water leak that was fixed by the new buyer which saved the new owners about $60,000 per year.

We put in new floors and bring the water heater to code and fix all the immediate issue with the get the renter ready. 

The previous owner is living for free in a house that I own, pay the water bill, insurance and property tax on but, at the same time the court has not confirmed that I actually own the property???

> roof replacement for approx. 1400 sq ft home> sink replacement> Water Heater and AC are old > Appliances e.g. cooking rangeWe may be able to cover some of these via extended home warranty but most of these will require replacement.Please suggest.

Water has one meter.