Can you please help me understand better what potential concerns in your experience can potentially arise here? 

I found the son on Facebook and sent a quick intro giving my condolences, expressed my interest in purchasing the property, and provided my phone # in case he decides to follow up.I'm in the process of preapproval with a couple lenders, and have reached out to a couple realtors in my area to see which may be a good fit.

Both offer unique advantages, but understanding the trade-offs is crucial for making the right decision.

I the understand the wiring for this specific purpose equipment can be considered with the tangible property. 

Is there a specific pricing strategy that you follow or do you look at your comps and adjust accordingly?

Quote from @Mohit Gupta: Following.

@Mattin Hosh first, most cities in Metro Detroit have some type of rental property inspection every 2-3 years.It's not really a big deal 99% of the time - especially for owners who are NOT slumlords:)Also, a quick Google search will show that several states/cities are passing/considering similar legislation.One of the biggest mistakes we see newer investors making is NOT properly understanding Neighborhood/Property/Tenant Classes and naively assuming that any rental they buy will deliver Class A results.Read our copy & paste thoughts below and DM us if you'd like to dicuss more about the Detroit market:)-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

From what i understand, the space heaters are a big fire hazzard. does your insurance allow them?

I currently operate a few STRs so have a good understanding of that aspect although they're all located in touristy locations.

Past success is a good indicator of future performance. understand the risk if the project takes longer or costs more.