Would working with a property manager also be helpful in terms of making the income stream as passive as possible if the costs aren't that high?

I always tell folks that so long as you aren't buying in high volume (I.e. apartment complexes of a few hundred units) Connecticut is still a reliable state to invest in multi family rentals.

Title insurance won't help you here... other than identifying the problems that you inherited.Since you are already the high bidder/buyer, just hope that there aren't any real title problems and next time do your research before bidding.

I have ask my landlord to replace my carpet since it's been over 10 years since I moved in she has agreed to replace the carpet on several occasions  however stated that  the property owner needs to come and inspect the carpet to make sure that  it is not  above and beyond normal wear and tear it is my understanding that in California the carpet should be replaced after 10 years  it is has bugs in it  there is no padding left  it is filthy grungy and it's already been cleaned twice and no  difference  because I am diabetic if I can have it replace laminate flooring that are being installed and all the  recently vacated units  which are being renovated I asked her on several occasions if I can have laminate floor instead of carpet and she stated that they cannot install laminate flooring in upstairs units due to the noise however I just discovered that the unit adjacent to mine on the upstairs floor  just  was renovated and they installed laminate flooring as this discrimination can I demand  this type of flooring  and ask  her about the new laminate flooring on the second floor policy and why I am unable to  have the same  can I demand that type of flooring or do I have to have carpet  I also feel she is being discriminating against me for no reason  she has been short when I ask for repairs  I asked to move to the downstairs unit and she gave me a whole rant about how she doesn't think that the property owners would allow me to move down there based on my rent being late once or twice  and a bunch of other reasons which I don't think it's her business  to point these things out to me or rather she should just give me the application or instructions on how to go about it and let the property owners make that decision  do I have any basis for discrimination  complaint against her with the fair housing authorities  California

I know great deals aren't found very often on the MLS but every once in a while you get that diamond in the rough.

If she complains to the local authorities about it being uninhabitable, ask the inspector to order her immediate removal for health reasons and you wouldn't owe her anything other than pro-rated rent - which she hasn't paid. 

Investments aren't like our spouses.

Don't contact them until you know exactly what you are looking for so they know you are serious and you aren't wasting their time.

Based on that experience, I would go out on a limb to guess that most of the concern is a result of either the bank being uncomfortable with lending to an LP if they aren't well-versed in it and thus cannot confidently assess the risk, or (2) banks want personal guarantees from limited or general partners as the investment vehicle is generally single-purpose and would be hard to recover against.

Even if you aren't connected, but have advice on a lead, I would love to hear from you.Thanks,Mark