The buyer can continue to search for an assignee, partner or lender while the title company prepares the deal for closing.The second method for preventing a breach by the seller is to make it very clear — often in the agreement itself — that any attempt to do so would be met with legal action to enforce the contract.Another option would be to record the PSA or a memorandum of its terms in the land records.

Funding (the rent that the tenants pay)Because this is not some 1000% margin business, each non-paying tenant increases the stress on the system, preventing other deserving individuals from being assisted.

None of the work that needs done prevents the tenant from living comfortably.

With a married couple, there is some legal responsibility in most cases that would prevent these situations.

This allows you be much more competitive on your offers.2) Allows you to buy a property that might have issues that prevent traditional financing.

Simply that - market corrections, development not getting completed, some other unforeseen circumstance that inhibits or prevents appreciation the way you may expect (like, for example, another hurricane!).  

I'd get a tech out for a "preventative maintenance" call and see what he says.

Do you use a warranty deed & does that prevent the title insurance from being invalidated?

Better an ounce of prevention than pound of cure. 

The numbers:3 BR/1.5 BA SFH in good neighborhood with an in-ground poolSale price: $80KEstimates renovation costs: $35KARV: $175K to $185KEssentially the owner is an older gentlemen who was working on getting the property renovated but health issues have prevented him from putting the time and work into it.