But, as a parent, I've come to consider my death as the single most important financial transaction I will ever make, especially with respect to leaving something to my children. 

Will they be more concerned with the current and possible future NOI?

I would either leave it alone or replace it. 

Again, leave it as is.

I was wondering if anyone would have experience with similar moldy conditions that may have some insight into the potential costs to take care of the mold concerns and whether it is worth pursuing the property given its current condition.

Clients have been able to significantly lower their living expenses by leaving their high-rent apartments for 2-4 unit properties in lower priced areas.There is some meat left on the bone depending on what your goals are.I'll shoot you a colleague request and maybe we can connect soon.Best of luck to you!

When interviewing them, what are some red flag answers that would have you running the other direction or even just a bit concerned? 

When interviewing them, what are some red flag answers that would have you running the other direction or even just a bit concerned?

.$1,737/month on a $3,000 rent sounds really great to me, I don't think you want to jump out because of the 50% rule with those numbers.Your main concern is getting the project done fast and getting renters in there.

To me I count those things as probably more important than the actual deal itselfSo here are the numbers:Purchase price: 70KRenovation costs: 26K (I originally estimated 15K hahaha I wish)Closing costs: 2KAll in cost of 98K.Currently rented: 1200 per month.The bank appraisal with my local bank just came back at 134K and with a LTV of 75% I am eligible to refinance out 101K on the total deal.I am only refinancing 90K which will leave my all in costs at approx 8K on the deal.After PITI and reserves for maintenance, capex, vacancy, and management I will cash flow approx 200 a month with a 23% CoC return!