The property is not in top condition and needs replacement on roof and some other things and i wanted to change one of the half baths into a full and convert one of the rooms downstairs.

I need to look at the mechanicals inside the house and the condition of them to get better understanding. 

They were all conditional on the inspection (and financing), so I had an out.  

The carpet was ugly as sin, but in perfect condition.

Have you received any approval or conditions that need to be met by the lender?

@Ryan Sandor hey ryan what part of town is the propert in and what’s the condition?

These are required:Rental AgreementSmoke Alarm / Carbon Monoxide AlarmMold & Mildew AddendumSafety AddendumSecurity Deposit Addendum + Notice of Security Deposit RightsMove-in Accounting (Portland)Condition at Move-in (Portland)If the property was built prior to 1978 you'll also need lead-based paint disclosures.

The way I'd establish a ranking would be to look on the muni website, compare price per sq/ft, compare condition of buildings, look at neighborhood density, compare days on market, etc.

Buy a solid home and remember it is a rental (ie it may not be your style, but it is a good home in good condition or will be once renos are done). 

It also gave me a historical record with photo for that property and it's condition just prior to tax sale.