., but 30 years is a long time...however you have to be prepared for the possibility that the rents could go down and not cover the mortgage (not too likely in my opinion) or the vacancy factor could go up and you again may not be able to cover the mortgage.Lastly if we have another crash in values and it goes down under what you owe then your $35k equity could disappear.These scenarios could cause you to  end up giving it back to the bank and ruin you credit thru no fault of your own.

The first few generations of AFCI breakers are known to have been troublesome, regardless of manufacturer.A picture inside that electrical panel could be telling of this, and the electrical system in general.I'd be surprised if the hokey wiring pictured is causing the AFCI breaker problems.

Hello All,I am considering on purchasing a investment property, but I am a little hesitant because there is over 30K worth of fungal damage that needs to be addressed.

Also figure on needing a plumber to patch at least a couple of leaks which are usually the cause of the mold.Can't say much about replacing furnaces but if it is older than 10 years when I was looking to buy a house for myself I viewed it as a negative.  

This process would soon cause more headaches than we thought.

I'm actually laughing cause I was once in your exact predicament.

However, my lawyer pointed out the lender does not allow the transfer to the third party/LLC and transfer could cause an acceleration of the debt (requiring me to pay the entire debt on demand).

It can also cause the bankruptcy to be dismissed and this leads to more troubles, if you talk someone into acting contrary to the Code, then you're really going to have some sad days ahead of you.After the discharge, there is no prohibition of the debtor acquiring personal or real property.

I don't want to kick someone out cause well that's pretty messed up. 

But whereas it has fallen into disrepair and has some water and termite damage and needs hundreds of gallons of paint and hundreds of yards of carpet, it has potential.