We typically have our student houses and apartments re-rented by April - well before they even become vacant.

With the exception of some electrical and plumbing (as listed on the property report), the house could be moved into.

A tenant reported roaches.

For Fannie Mae properties the Homepath website is usually a day or two ahead of the MLS for reporting the marketing status. 

Private lenders typically want skin in the game, most like to see a history of flips.

Typically not until it reaches 5 units does it just go off of cap rates.

We're in the process of suing the tenant for the back rent and damage to the unit and I'm guessing she called the city to report the violations to claim unsafe living conditions or something.

Then at the end of the year I just print out a report that has all my income and expenses and hand it to my accountant and done! 

I am new to investing and wanted to find out if other investors would take the risk with the unknowns listed on the seller inspection report pasted below (especially the plumbing situation below since I am unable to get the water turned on) or if it isn't worth it/it's too risky?

They're probably not reporting your money to the government, which could create tax problems for you down the line, and by not having a contract they are less bound to the job and more free to walk off when they want.