The majority owner should be required to sign reps & warrants at closing to be personally liable for them.You didn't mention checking the plumbing - hidden plumbing leaks can cause more damage over time than just about anything else!

The tenants are likely over-stuffing them.

So needless to say that I need the rents coming in. my problem that I have is that one of my first tenants brings his girlfriend over every night and they argue by slamming doors and disturbing my other tenants.

I purchased the home from an auction.Talk to a local real estate attorney to go over options (eviction, cash for keys, etc) 

You can then use Transactional Funding if you choose, otherwise if you planned to buy the land then sell it later, you'd have to get a different loan type, which inevitably will cost you more plus longer hold time and greater costs over the double close and certainly over an assignment of contract.

This is a distressed property deal with enormous potential and a massive COC return.

Trailer with 20 acres and junk laying all over.  6.  

He shared with me that per bedroom rent was 3200 dollars for a single occupant room, and over 4000 for a double occupant room. 

For context, we are 80k over asking and worried about appraisal not coming through but hoping we can negotiate with seller a bit.

We manage a few in NJ and are constantly shipping up and/or ordering supplies to be delivered to cleaner.