Those cost more and rent for less but they’re completely updated and essentially all the big items are new. 

You may find the legal fees and trouble may outweigh the benefits.

I figured it would be easier for each tenant to just transfer money to me individually instead of one person collecting it from the other tenants, but now i see the benefit of doing that instead.Once again, thanks for the input!

In essence, you would have to claim the income on your taxes and pay uncle Sam, for no real benefit to your situation.

Essentially a "20/30/50" arrangement. 

I just don't see the benefit in investing local even to start out with.

I already spoke with @Phineas Howie about this earlier but will publicly state my opinion for the benefit of others.I do not consider medical collections because they are extremely common and I have no way of knowing what stage they are in.

@Carlina Burford if the owner has had 3 accepted offers presumably from a bank (based on the fact it failed inspection), I'd be extremely surprised if they were to accept your offer based essentially on the land value.

Once you refinance the house or otherwise pay off the mortgage, you must apply fore restoration of your benefits.  

Everyone has their strengths and some will benefit from having a license.