If you guys paid cash for the property & want to avoid borrowing funds, but need money to pay the contractor & start producing income, then you could possibly do a lease option (aka rent to own) allowing the tenant/ buyer to choose design elements or have input on the design (so that they feel they're getting some kind of customization & added value), this would be of course AFTER collecting an NROC fee, (Non-Refundable Option Consideration - not a down payment but gives them the right to purchase at a future date - usually 3-5 yrs) typically anywhere between 5%- 10% of the market value of the property.

If water isn’t collecting around the toilet’s base, how can tenants spot a small leak?

I can get proof of rental history and expenses from him, but how likely am I to be able to find an investor who will want a rental in a pretty bad area.  

Or developers who have sound proofed before. 

you end up after a few with a list of contacts who you can use the collective knowledge on to everyones gain.With regard to legal advice, i'm sadly unqualified.....I have heard of people leafleting, putting postcards up in shop windows etc with success and even bandit boarding.

Just because it was the 1st mortgage doesn't mean that ALL other liens are wiped, certain liens cannot be foreclosed out including COA liens and municipal liens (special assessment, lot clearing, securing, utilities, etc)718.116 Assessments; liability; lien and priority; interest; collection.— (1)(a) A unit owner, regardless of how his or her title has been acquired, including by purchase at a foreclosure sale or by deed in lieu of foreclosure, is liable for all assessments which come due while he or she is the unit owner.

Some states won't allow last month rent to be collected, like mine. 

Don't bank on that inheritance without solid legal proof that the Buyer/Vendee will be receiving said inheritance.

Collecting paystubs and W2s seem pretty reasonable but then there are other requests that leave you scratching your head.My recent favorite is "we need a witten explanation how you have bought so many houses with it signed and dated at the botrom"Share your most rediculous underwriter requests.

They are equally and collectively responsible for both.I don't deal with, "I paid my half of the rent" situations.