Make your offer subject to satisfactory home inspection and termite report to the buyer to cover yourself, look at the serial # on the unit for the year that it's built 10 years or older budget to replace on initial inspection(should be 1st 2 numbers), electrical and plumbing checked on inspection, if serious problems arise revise your offer to a lower price!

It's a lot easier now than when issues arise.

My wingman just closed on one of these and I was thinking he needs his own policy in place, even though I know having anything "double-insured" could cause headaches if a claim arises.

A rising tide raises all ships.

If the occassion ever arises, never rent to friends or family.

I also am prepared to send in actual account statements, should the request arise.

Anyway I tend to want to learn everything before I start doing something so I don't become a deer in the headlights when something arises.

There is a communication issue that arises from NPN discussions, the percent baseline is usually a function of the FMV, but technically that is moving target.

I guess I have concerns about those assets being subject to a lawsuit if one ever arises.

I can see a rising market in a hot area being great for a investor looking to flip with a decent amount of cash to invest up front and a lot of experience in doing that.