No inspection, you lose your rental license because of lack of inspection, and now you either operate your rental illegally or evict the tenant for refusing to let a government official in their house.And this was shot down by the Kansas City Missouri City council for many of these unknown questions and because tenants and landlords have been suing cities across the country for similar laws and winning. 

This site is an amazing resource for you to have on your journey.

Worst case scenario she loses her job, I know she has a fallback to ensure she can make rent.

I'd look at the pricing on one of the sites and then correlate that with your purchase price.

BillWelcome to the site Bill. 

It takes all the liability but since it holds no assets, if you get sued and lose, there is nothing the plaintiff can collect.

The 80 yr old owner had a bad property manager on site, he cleaned every tenant out and started over with 15 new tenants, with only 4 available units, and slowly working on the rest. 

I'd look on Realtor.com and some other sites, and see what offices seem to have a lot of the listings.

I expect my rental income to cover mortgage payments of course, but I can also cover things as needed by pulling out or borrowing against my stock investments - so losing my active income source isn't a huge concern for me.

Means you better learn everything bout Right of ways, utilities, building codes and tones more.. but hey.. if you don't learn those.. you will lose everything .. as REAL ESTATE is based on the land, the government laws locally, and every technical detail , laws, and technical jargon and fact including business law and contract law !!!