The in ground pool is ruined will need new liner and mechanicals.

The in ground pool is ruined will need new liner and mechanicals.

I am a Mechanical Engineering student at Michigan Technological University in Houghton, MI.

This means that they're responsible for anything electrical, water and plumbing to the meter, mechanical, and any interior modifications or maintenance.

Oil industry, auto industry (subprime loans), and global deflationary pressures all can greatly affect US RE wherever you are. 

Many times the terms will need to overcome these obstacles: The seller wants to sell fast; s(he) will have hard time trusting you (or vice versa); then you will also need to put valuations (very subjective) on the house if it were to sell today and some split of the profits - all this without (likely) knowing the seller well.I think it's worth a try (and you will definitely need to protect yourself somehow - possibly mechanic's lien for agreed upon value of work), but in my experience I was not successful.

So my question is, I want to check a property for possible "extra liens" (irs, mechanics, tax lien, etc).

What are the mechanics of paying the monthly rent payments? 

Areas of concern:Tax home and addressMortgage occupancy requirement is` one yearUtilities onInsurance policy properly assessedBuilding Code requirements may differLocal taxes may differ or non-owner may require licensing if held for businessYour driver's licence and auto insurance addressLegal documents requiring your address, licenses, contracts, employment, banking, insurance and health records. 

The mechanics of the actual transfer of title is a separate discussion.