It’s a bad code violation.  

Average Market rate is $1,200 (all utilities)Section 8 $1,277 (I just have to cover the water bill)Median income in my zip code is about 25k.This is my train of thought in choosing section 8: I feel confident I'd be able to find a non-section 8 tenant that meets the 3x earning rule but in this high risk market I would rather get steady income.

@Randall Re II they are still out there and requires a lot of work and being specialized for what you are looking for ( zip code/type/finance readiness etc) agree with @Sandy Sawyer and add that if you are an investor spend ZERO time on MLS scanning.

The unit was installed up to local codes and the technician, instructed the tenant that the filter needed to be changed and Bleach/ Vinegar added to the drain line every 30 days.

The comps in the zip code are either a little above or at our price.

Also, if you have to do major rehab to a place where the renovations exceed 50% of the current market value, a lot of cities will require to bring up the property to current code, which can add to your expenses to repair things you otherwise would not, such as making the place comply with energy code requirements and next thing you know you gotta replace the windows and insulation. 

Mostly code, structural or safety related issues that are present at the moment with out opening or dismantling the equipment.

@Luke Hoge I am looking for Z-wave plus connectivity so I can setup some home automation.I like the idea of being able to change codes remotely.

(BTW, banks saying "we want a relationship" is really just code for "we want you to deposit money with us.)

Any advice/ thoughts is greatly appreciated.I have a degree in computer science and would love to trade real estate knowledge/advice for code+website help, if anyone is interested!