However, you are a landlord, your only concern should be if they pay their rent on time, keep your place clean with no damages and are not doing any criminal activity in your property. 

The comments you made about some repairs would be a concern windows deck etc...3.)

This is risky I know, looking for what are the immediate concerns that make you experienced investors cringe at this idea.Thanks

The lot rent has been really expensive lately, and I had a few crappy renters, so I was really ready for a break after 3 years and some extreme personal problems.

The home was built in 1954 with cast iron pipes and the neighbor described the pipes to be extremely corroded. 

Wouldn't you be concerned about the return you'd be getting if you were investing your money?

If so what advice do you have concerning it.

The hardwood in kitchen would need to be sanded and refinished and carpets need to be replaced with either carpet or LVT (Can't afford hardwood, and do not want laminate or engineered wood)One of my concerns is the height difference from the hardwood in the kitchen being 3/4 inch higher. 

HELOCs are extremely difficult to get for non-owner occupied properties. 

My main concern would be the vacancy between tenants, and cost associated with a tenant moving out like paint and cleaning.