I currently rent out my house that I owned prior to our marriage.So #1 is kind of a crappy option because it will take my savings for my next rental property, plus I will have additional costs to repair the water damage.

The wiring originally installed that house was designed to run a few light bulbs and perhaps a radio or two (it's not uncommon to find a single circuit per floor or only 2-4 for the entire house) and not to handle today's array of electronics.The house of that vintage, the presence of asbestos in its many forms (pipe and duct wrap for the heating system, possibly mixed in plaster, floor tiles, exterior siding, etc) is a distinct possibility.Where I do not have experience is in local insect damage - I know you have termites and undoubtedly carpenter ants (or a close relation).  

Some warranties will cover immediate repairs to an appliance assuming the inspection showed that it appeared to be in working order with no obvious damage.

I will not destroy, damage or substantially change the Property, and I will not allow the Property to deteriorate."

Learn the real estate lingo and sound and dress professionally.It is important you choose a niche and focus on brokers who deal with this niche.  

I may be wrong about this, but I feel that I can see it as entirely possible, and in my opinion, I think it would have been a very important part of the movie because if they could have linked how damaging those racial quotas were then perhaps we could have shed some light on other areas where these quotas are also damaging.  

I have a contract on a fire damaged sfh on Wilson that I'm looking to wholesale for 35k.

You have to figure out how often the damage is likely to occur and how much the rents would suffer without the finished square feet.

In either case, my concerns of the water remain the same, for what it's worth.Again, my investment rules always point to a definite, "No" with any kind of water damage.

All other "arguments" are window dressing.