Since the courts are all backed up right now his attorney said that if he has a letter from me stating eviction will be filed by the 20th he can get an emergency court hearing. 

This is also a function of size, i.e.

I included a link to Fulton County court.  

You'll have guys gambling on the side court and people possibly getting shot over a game or down😳.

I don't think that a federal bankruptcy court would allow a real estate broker to include tenants deposits in his bankruptcy so technically he would still owe them if he is holding them for the tenant.  

If the market continues to improve around here then you'll do well either renovating it in the future to flip or renting it out.For the transfer if this is the only asset his LLC has you can just have him transfer ownership of the LLC to you which would avoid a transfer being recorded in the clerk of courts office so the bank won't see a transfer of onwership and the assessor won't see it either (just meaning they won't reassess the property and bring your tax base up).

We are nearing the end of DIY renovations ( it looks pretty awesome though and functions).

So you can imagine how inefficient the search function is for me right now.

Then for rentals, you would want some durability to go with affordability, so look up,  via the search function, the threads on how to harden a rental for ideas in that aspect. 

The inspection may allow you to spot major issues (like a hole in a tank), but functional testing can likely only occur when folks are living in the house.