B. (1) BUYER HAS: 30 Days After Acceptance, unless otherwise agreed in writing, to: (i) complete all Buyer Investigations; review all disclosures, reports, lease documents to be assumed by Buyer pursuant to paragraph 8B(5), and other applicable information, which Buyer receives from Seller; and approve all matters affecting the Property; and (ii) Deliver to Seller Signed Copies of Statutory and Lead Disclosures and other disclosures Delivered by Seller in accordance with paragraph 10A. (2) Within the time specified in paragraph 14B(1), Buyer may request that Seller make repairs or take any other action regarding the Property (C.A.R.

Make sure you have all the documents like copy of his contractors license and the contract.

It's in a flood plain, but there's no history of flooding and the building sits very high up from the river.

Proper borrower documentation.  

Even though the returns are lower than I am use to, I could sign some documents, pay closing cost and start cash flowing +/-$2000 a month (not including maintenance cost).

Itemize all repairs needed ( get real proposals) include $15/hour for your time for whatever you do yourself, then subtract from SD, supply past tnenant with documentation of those costs and return balance if any. 

@Katey TataWelcome.You may not want to make this complicated.If you draft an Agreement to Purchase a property, draft another to sell that Agreement and sit with a Real Estate Attorney from Massachusetts to review the documents, you should be ready to "Just Do It!"

Un-remarried surviving spouses of an eligible service member who died as a result of service or service-related injuries may also be eligible.ELIGIBLE PROPERTY TYPES1 – 4-unit single family detached homes PUDsTownhousesCondominiums—per VA guidelinesINCOMEIn order to be considered for approval of a VA home loan, income stability is a mandatory requirementVeterans recently separated from the service must have a minimum 2 year work history in the same line of work that he/she did in the service.

Sometimes sellers are not being truthful about the history of the property or the tenants.

What is his credit score and job history..... it only takes one person to crash a plane.Also remember that these are not your only choices.