Seems there is some leverage there, but only if you are willing to walk away. 

After paying the note and expenses I'm realistically only walking away with $5-10k and that in my opinion is generous.

Bring a GC with you in your initial walk-through.

Lessons I learned:Have a Balloon payment no more than 3 years awayCollect Down payment as it will give tenant incentive to keep paying and not walking away from the house.Have a higher interest rate like 8-10%Price higher than what it's worth as you will have to discount the note if you were to sell. 

This is the first walk through, there has never been an inspection before or any photo evidence.

(Half of first month’s rent for new tenants, advertising fees, yearly walk-through fees, callout fees, and so on.)How they enforce late feesHow often will the properties be inspected each year?

My advice is soft walking, hard vetting.

Hi everyone - I'm a bit new to real estate investing, so forgive me if this is taboo to ask: I would to tag along with someone here in Pittsburgh and walk a property. 

If you can't afford it go as walk in and pay a small fee, maybe $15.00. 

I'm only walking away with $97K though, because the first thing the bank did was pay off my HELOC.