Save some cash right there as long as the title comes back clean.

As investors you aren't going to blackout because the electric panel isn't up to code right?

I want to provide the community with nice, clean rentals that add value to the community.

If he illegally tapped into the electric grid to bypass the meter and avoid detection by abnormally high...not that kind of high....electric rates.  

I also prefer to professionally clean the place before a new tenant.  

The new owners put $8,200 in updates (HVAC, electrical, etc.).

Convince yourself that this property has a clean title.Assuming the info is available to the public, I'd want to know what he paid for the property.

I have very simple but extremely "it all depends" kind of questions, but if I provide these following details perhaps the answers can be black and white and not so grey.Ok so I'm a starting investor and my essential goal is to own ten 4-unit buildings (40 units total), and cash flow $10,000 a month, clean income after all expenses.

Except for plumbing, electrical, lumber and drywall.

Certainly get it inspected and make sure everything is up to code (electrical, plumbing), and if not, budget for rehab accordingly.