Quick story to get you up to speed.

If they are professional, they can explain this quickly and easily.

I had only gotten to the point of doing a quick sketch layout and code research of the acreage to see what kind of development could go on it and how many lots I could fit.

Also depending on the year built, lead paint and/or asbestos abatement will be expensive.Here are the things I look for when I do a quick walk through deciding if I want to offer on the property.

It is a higher-end rental so it has attracted a good tenant base.

Some of them might not look so terrible when you drive through quickly but try walking them once the sun goes down. 

Wow I didn't expect such a response so quick from people in my area!

I know for a fact that rental income can be used to qualify you for the mortgage, at least in my case this was frequently discussed between my mortgage specialist and the underwriters at the bank.What really attracted me to the home possible program was the ability to cancel PMI without having to refinance (like an FHA).

@Chris Jurgens, run your numbers and you can find out, I use this simple bar napkin math to quickly analyze, and then if those numbers work out, I analyze in depth. 

Dig down to find out what the real hesitation is as their goal is to sell and you are a potential buyer and why would someone so quickly dismiss a potential buyer?