I do not require last month's rent in my working class neighborhood, but I do require proof that the utilities are in the tenant's name before the keys are issued. 

Always make sure they have proof of funds in their name and not a 3rd party.

Send me over your written offer along with a 10% escrow deposit and a rock-solid proof of funds (from a local banker I can call to verify) showing you have the other $810k in liquid cash"Wholesaler: [Stunned Silence]I write this not to poke fun at @Lena Claybon or anyone else.

It won't hurt to let them know, in writing what your intention is and get their blessing.  3) From my personal experience, take the time to sound proof the basement unit, you will have a much easier time renting it and you'll enjoy living there more.

@Zack EllardIn my opinion/experience, the biggest pro of buying a turnkey property is that you will be eliminating time and risk associated with finding a deal and rehabbing a house.

Nothing is bullet proof, of course, but I am not going to put properties in my name alone and cross my fingers either. 

The profits aren't significant, but they are STEADY and RECESSION PROOF.  

You are willing to pay what you are willing to pay, and you should know what's a fair offer; but so should he.I think the skill in negotiations is to identify what is "fair", then tamper it slightly to your advantage.

And yes I asked the seller for the certificate or some sort of proof.

If you have proof that this is a medical condition you need to mitigate you may have some sway with the land lords... but I doubt it.