Ask the age of all the Mechanical s - HVAC, HWH, Appliances.

So, what are the mechanics behind this?

Mechanics of lender lending money based on your credit when you own 50% or less of the property may be a non starter.

Any info or advice would be greatly appreciated before I send it over to my lawyer for a final draft.The home is in a suburb of Detroit, has one set of mechanicals, and one set of meters.

I want to learn the mechanics of real estate investment deals.

You have to learn how to be an investor (mainly a mindset, some mechanics and really a life skill), but a duplex is perfect to test the water and see if it's right for you.

I pay water and sewer on all of my properties.There are also a good number of multi-family properties in GR that pay heat and electricity if the big mechanicals aren't split and there are tenants who specifically look for that.

The only time it would happen without there being a mechanical problem is if there was a voltage drop in the power coming in from the street.

There could be debt that you are not aware of, unrecorded liens, mechanics liens, welfare liens, estate and inheritance liens, Federal tax liens, etc.Also you could be subject to further liability and litigation for past events of the current or previous owners.You can buy the assets of the company without buying the company.And as to the name, you could license the name, or use a name similar but not exactly the same, and it would not be infringement, because the current owner could waive infringement. 

using a mechanical lock box works great for vendors, but I would never give a code, even a 1 time code with an electronic box or lock, you would be trusting the viewer of the property to turn off lights and actually close the door, I think you are taking a lot of risk this way, I had a vendor that left a door open, fortunately i got there before all the pipes froze, some PEX was frozen when I got there, Just be careful, I would Highly recommend paying a manager, they are worth their fee without question.