I don't know until I speak with someone, but I'm curious to if this would prevent the ability to add a detached unit. 

@Zoe LeePaying more than the appraised value does not necessarily prevent you from lowering the valuation.

It's best if the seller (or seller's agent) is not standing around listening to prevent the tenant from speaking freely.

Failing the framing inspection could be too late to prevent damage if you chop through something important. 

  - The upkeep budget seems high at 25% (PM, Prevent, Cap Ex)- Insurance and Taxes are based on a $100,000 home but rent is in line with a $60,000 - $70,000 home.

I will be doing this, however I'm looking for additional suggestions and strategies of how to better handle and prevent immediate tenant issues with this current situation.

If you invest in warzone, you will need special people, because flying bullets prevent most companies from doing their job. 

I wasn’t sure if this was what they legally had to do in order to cover themselves, prevent fraud or whatever.

Prevents tenants from calling to complain about the neighbors on a SAturday night at 11pm.

We find asbestos in the Chicago suburbs all the time as a pipe insulation, and the common recommendation is to leave it alone and just wrap it up with plastic wrap or something along those lines to prevent it from crumbling.