It has been very well taken care with the major nuts and bolts like the windows, roof etc being in good condition currently but it was basically treated as "if it's renting and not broke don't fix it". 

I’ve been reading through the forums on a regular basis, I’ve read “Set for Life” recently, and I worked through creating my own rental calculator like Scott did in the book to try and better understand all of the money related aspects that go into a rental property.

Here is the story:I have 90K cashI'm looking to buy an investment property for cash flowMy credit score is great (above 800)I don't have any debtIt's the first house I'm buying Trying to get a mortgageThe problem: my income is low, 25K a year.In this conditions the banks wouldn't give me a mortgage since they say that my income minus my current rent and other expenses doesn't leave me any cash for a mortgage payment even that I would be renting out the property I'm buying and that would cover the mortgage.Any ideas how to get a mortgage with those numbers assuming I'm not going for primary house?

I assume you have a conventional loan (MIP on a fha will be for the life of the loan).

You need to inspect the two units that are in need of rehab and check their condition.

Maybe I’m misunderstanding this - .. they knew this fella was a low life grifter and yet due to an old eviction they did yet still took him in under the lease .

At this stage of your life, you need a combination of liquidity and appreciation.

The tax value doesn't tell us, or you, what it is actually worth....only market comps, in Similar condition, size, etc. cn tell you that.Hard money, or any other private lender is going to want 20-35% down, and has no interest in making interest for only a month or so.Also generally, the higher you get above the median house price in the area, the longer and harder it is to sell.

Your inspector will look for structural integrity issues, life safety issues/fire hazards and inspect your MEP Systems to make sure Electrical panel, wiring, piping, hot water heater & HVAC systems are acceptable/good working condition.Roof/Crawlspace/Attic InspectionsIf you are afraid of heights and don't want to get on the roof, crawl around in a dirty creepy crawl space or climb around in a haunted attic, an inspector can inspect these areas.  

It's in great condition and mostly up-to-date, but the kitchen is dated ('70s/80s), and it has an attic level that was just begun to be finished and then left off sometime in the '70s or '80s.