Not an issue unless it's still usedOdd size windows, means custom window replacement Clay tile sewer lines could have been used, cracked, damaged lines can leakLead pipe water supply lines, won't kill you, I used them ever sinceWiring may not be three prong grounded lines, check behind the outlets.Fuse boxes were used then, not breakers as today, but that may have been changed out, 60/80 amp service lines were common, utility company may have updated to 120 amp, in the 60's, may not be sufficient today so see if the service line in is 200 amp.Electrical boxes can be smaller and metal, light switches and ceiling boxes, won't hang just any new ceiling fan from just any old boxes.Check the bathroom electrical outlets near sinks and tubs, make sure they are grounded properly.Old floor registers for return air and ducts, these could be abandon when upgraded and covered with carpet.

The ultimate goal is to make flood insurance self sufficient and operate without a taxpayer subsidy. 

It's best to do it on your own so you can focus and be thorough.If your state requires you to conduct it with the tenant, then bring a witness and record the entire thing (audio should be sufficient).

Brad, Definitely a big win for people looking to get into the game and to avoid the FHA self-sufficiency test! 

So, I have a bad property manager who allowed my tenant to let the property fall into disrepair and, because I didn't choose the contractor he recommended, he has let my property sit untenanted x 8 months, not following through on getting me 2 comparable quotes...So, I now have to have $36,000 worth of repairs performed on the inside of the property and probably an additional $20,000 on the exterior (the latter can wait until I have a tenant...)The business accounts associated with the LLC's (jointly owned by my wife and I) that own my rentals don't have sufficient funds to pay for the repairs.

So, now a little of my new perspective being with a PM: you most likely don't have the skills or the bandwidth to do the underwriting/qualification of an applicant sufficiently to bring the risk of delinquency and/or eviction down to where your stomach can handle it. 

You can make a ballpark estimate which should be sufficient.

In the end, there were just too many factors that resided in the "gray" area and that were not being addressed with sufficient transparency, so, I walked.

If any give is preferred, a card in my opinion is sufficient.  

If you do, a bank statement should be sufficient.