You posted in the Renter's Discussion forum, which isn't the best fit.

If you'd found this guy two or three months out there would be a few easy creative finance solutions involving above board vanilla 30YF Fannie stuff. 

I have found a couple duplexes on the MLS that would fit my criteria but there are a few issues.First the Realtor!

I've been looking for something like in the Beaumont area to get involved with.

I know most (well lets be honest ALL) of the answers involve knowing the law or getting legal advice, but as a landlord you want to make sure you are familiar with the requirements because it will come up.

Maybe that's where you get that it's asinine, because the government is involved and if that is the case, I agree with you on that front. ...and no, that's not why it ends up in foreclosure.

They will not send a jackleg out to your property because they know you will come back and throw a fit.

How involved do you want to be?

In my state anyway, there is nothing "minimal" about the time involved to be a Registered Land Surveyor (you need this to be able to "stamp' the survey). 

Now, this doesn't mean it is not purchasable, but it does however cause the investment to have more risk involved.