I can still back out of it because the closing isn't until the beginning of May and loose only the earnest money and inspection costs.

Such records are to be made available for inspection at the request of the IRS.

In an effort to provide some information for long term buy and hold investors to be more prepared, please see below:Happening Nationally:Tenants have refused to leave at the end of their lease siting uncertainty and high risk of virus.Tenants (apparently even with strong renter history) are stating the virus has impacted their income and are not able to pay rent, are asking for lenience.Vendors are less responsive to non-emergent maintenance due to fear of employees becoming sick.Property Managers have chosen to be less responsive to non-urgent maintenance requests from tenants to keep their team safe, similar to vendors.Showings have decreased or have been cancelled due to the fear of being in public buildings or other people’s homes, which might impact vacancy if this is longer term.Occupied unit showings have ceased for the protection of the tenant in place, the showing agent, and the prospective tenant.Some management offices are closing and requesting rent be paid in a different manner than visiting the office.Occupied unit inspections have been paused, unless deemed emergent.Be Prepared:Think through how you will handle some of these situations in advance and write our a process for it.Handle them consistently and do not favor one tenant over another.Be proactive and prepared so you can act unemotionally and with fairness for all.Be a Leader:Now is the time to show your team (vendors and tenants) that you value their health as much as you do your own.

That’s one of the jobs of the HUD approved 203k Consultant. if you have a contractor do this job, s/he will most likely miss FHA required items and therefore give you an inaccurate price for the proposed project.First, get a HUD approved 203k Consultant who will inspect the property for FHA required items and after taking into account the additional items you want done, you will get a report with pricing. 

If you are not living in any of the units, some municipalities require inspections to issue a separate CO for the tenants living in the units. 

When I make an offer in a completive situation I offer cash, as is, with a quick inspection and significant earnest $.  

Cincinnati MHA used to do annual, now biannual inspections. 

The realtor and lawyer probably know each other and the lawyer isn't protecting you.Beyond all of that, from a construction point of view: a property that is riddled with permit and inspection related delays will not be a good end product.

Do a move-in inspection report on their room and have them sign it so there is no ambiguity as to the condition of the room when they moved in. 

Tomorrow, I have to go to work - and then we have an inspection on a 5 plex we just put under contract.My ham radio says there is a safe zone somewhere up in Maine.