Perhaps a nice 1950's built bungalow.Always hire a 3rd party property inspector to give you an unbiased feel for the home.

For instance, this particular deal I'm currently involved with is located in the Unincorporated Lake County area.

I'm a little late to the party, but I'm wondering if it is a bad time to start investing?

It is extremely risky to not have any insurance in the event of a huge loss such as the house burns to the ground or a major lawsuit involving your property because of an injury.

Louis, and while it was a pain to get the checks switched to us, the tenant for the most part is pretty good.

Im hoping to find some ideas , and creative ways to come out of my comfort zone and get more involved with others in my area.

I am in need of some quick advice on the best way to approach this to protect both parties.

If inherited, they would have a new tax basis and little or no taxes (which would be preferable except that means granny died, good for taxes bad for granny) but since you said a Quit Claim Deed was involved it's unlikely it was inherited.

I was involved in real estate investing in the Phoenix area in the late 90's and up through 2008.  

For the most part, I agree with Russell.