@Matthew Edge I think your intuition is correct.

Are the tenants going to cut grass / shovel snow, or will you need to hire someone?

FHA is not that much more trouble unless the property is very banged up (chipping paint, safety hazards etc).

An eviction is going to cost you a good bit of money and time... have you considered buying the tenant out and/or cutting your loses? 

Cut branches that touch the structure allowing bridges, check the roof gaps at chimney and plumbing pipes.

I've done some reading and seen things like"Common council unanimously passes rental safety verification program"https://www.abc57.com/news/com...But I've also seen"New Indiana law strips cities of power to regulate rental properties"https://wsbt.com/news/local/ne...What is exactly is the current situation? 

If it is one lot/parcel and zoned for two units, meets health and safety codes should be good.  

They would buy the property, I would lead and fund the rehab and the split on the sale would be 60/40, 60% being my cut. 

The property tax in Anchorage is very high which will cut into your cashflow as well.Originally posted by @Filip Reutov:@Jamie RoseI think our buying power can go further out of state, AK has some big list prices.

I had tried several personal injuries and accidents attorneys in my area to see if they can give me a list of things we can do as landlords as a safety measure that can mitigate landlords liability in the event of a gas explosion in the rental unit.