put the utilities in your name, pack a sleeping bag and sleep there from day 1  and you will be safe..  

And, quite frankly, cities with no regulations today often create regulations in the future.It is a much safer bet to find a locale that has definitively legalized short term rentals.

You can pay someone to keep it safe, but you can also get a safe and take care of it yourself in the beginning.  

@Joseph Romano yea I would estimate vacancy above average. 15% sounds pretty safe.

Now you can flex your muscles at your hubby and I bet your tenant is a bit embarrassed.  

I personally don't advise my clients on purchasing any properties with polybutylene still inside, most agents have this opinion as well.With that being said, I would say it's safe to assume you will be replacing the piping, whether that be with a closing credit or replacing it prior to closing.

I think your best bet is motion sensitive cameras and lights - and if you have a house across the street put them there too so you can get two angles. 

Your closing attorney will be the one that does all the paperwork with all safety safe guards in the contract.

If there is a drop the already financed property is safe as long as it cash flows itself.

Current rates are in the 4's on a 30 year fixed, so not heinous and since you don't qualify for conventional financing, this is your next best bet.