Based on what I could gather, it appears that it isn't critical to get any new documentation signed because the terms of the lease still apply and will transfer to me as the new owner. 

Great place to be looking but actually I think location in the town and schools/amenities are critical.

To be fair, since I criticized the Sheriff's department in the earlier reference the summons service, I must say they were AWESOME here: very patient, made sure the tenants left and protected me by making sure I did everything correctly. 

They do not want to hear criticism or having others change things even if that may very well happen.

Therefore, a critical location selection metric is that rents and prices are rising faster than inflation.

Keep in mind that nailing rent projections is critical. 

All criticism accepted!

You can totally do it but understand it might be a challenge with your personality type 🤪 A rockstar cleaner and a handyman or two on speed dial are critical for your success.

I have seen many architects and General contractors does not care too much about city specific @Ryan Normand, Great suggestion that is what I was thinking hiring experienced GC and architect is critical for large remodel project.

Mortgage planning in this area is even more critical because DSCR type loans that qualify purely on the gross market rental income of a property and usually has prepayment penalties (up to 3 years).