You will also have insurance (builders risk or at least empty house, these are both expensive policies that cover very little), utilities, RE taxes, and other carrying costs that will depend on the situation.  

You hit nail on the head - A LOT of buyers and investors are spreading out into formerly less-desirable neighborhoods for the cheaper prices, flip/rehab opportunities, and the less-stringent neighborhood association permitting policies (*ahem* anti-mansionization ordinance).In fact, LA Curbed.com recently did an article showing YoY increases in appreciation.

They checked out perfect and I changed my mind (policy?)

@Joshua Dorkin is right to advise listeners that honesty is the only acceptable policy. 

A prelim is not the final policy.  

Also, look to your policy for loss of rents and coverage for tenants expenses.

I was chair of the redevolment committee in the city's Vision 2020 project, his efforts at the time were impacting the Jordan Valley area and it was hard trying to keep up with his proposals.

@Steve:I do not have a complaint per se, I am just hoping for a landlords-eye view of what policies are 'Well, that's life in the big city' versus 'Unethical and probably illegal, run now!'

Yes they can BS you but at least introduces you to the tenants and work out any issues/needs and what your immediate policies will be, Paying Rent, Updated Leases, etc...

That's also why you have liability coverage during that ownership period, which covers you during that insured term and forever as well as any current policy you may have.I'd talk to a RE attorney as to the assessment of any risk in reality, I've never heard of a homeowner being sued 10 years later for any of those issues.Can they prove that mold existed prior to or on the day of sale?