Since I was only given an overview of the financials along with those leases after signing a confidentiality agreement, which seems to be typical around here, I would make any offer contingent on not only getting those tenants to sign a new lease, but more importantly receiving the past two or three years' operating statement and tax returns when I can do my true due diligence, including inspection period, etc.What surprises me most is that the current owner bought this property for $950,000 back in 2004, and is now asking $795,000. 

Or get it under contract then do inspection+contractor walk through?

You essentially have to fill out some paperwork, get it inspected, and pay a fee based on the amount spent to convert it.

No matter what your pet policy is, regular inspections to make sure the tenants are cleaning up and not messing up your rental is imperative!

Inspection done. 

As a flipper, you will need to know a lot about managing jobs, proper construction techniques, permitting, inspections, building code, etc. 

Looking for recommendations / referrals for a home inspector near the Jersey Shore that has experience with inspecting forclosed home. 

In Santa Clara County seller pays for escrow fees, title insurance, and county transfer tax - https://www.firstam.com/title/ca/resources/who-pays-what-in-california.htmlDepends on how you negotiate with your agent, you also have photography, staging, inspection report just to name a few.You bought a property, even though it's just land you still have to pay property tax on it.

With any property pay for an inspection by an independent inspector (ie not one recommended by the seller or the seller's agent). 

Also negotiated upon receipt of inspection report, getting $2K credit from seller, totaling a purchase price of $112K.