I plan to write the purchase agreement pending inspection.If you made it this far, thanks for reading the wall of text.

This led to a lot of problems, because they accidentally ended up paying MLOs more for loans the more likely they were to default (devil's advocate: they were paying for what "sophisticated" people on Wall Street demanded). 

We are going to paint some walls to give it a more modern feel, and to take away from the stark white. 

The reason being that the maintenance tenant could "hire" other tenants to put holes in the walls so that he could fix them.

has some pretty smart and  interesting perspectives but his "Your home is not an asset because it doesn't generate income" is just off the wall. 

It has an addition of a 2 br 1 ba that shares of a roof but does not share a wall (we will call it unit b).

Stay away from large scale water intrusion issues (roof, siding, or otherwise), major foundation issues, issues with framing, stupid layouts that require rearranging walls, or places that have issues that can't be fixed (location, occupancy/zoning issues that impede your desired use, etc.)

There's old cat feces everywhere, noticeable urine stains, scratched up walls, black mold on the walls, rotten window sills, doors made out of wood and chicken wire that apparently were built to block off hallways, a tree partially through the roof in the living room, holes in the walls in some places, refrigerators that are beyond disgusting and vanities that are barely standing among other issues.The place has a lot of potential I think once it's cleaned up but I've never tackled this kind of situation before.

Since the cabinets are going to be in the kitchen and are going to take more use and abuse than normal walls do you go with a different type of paint for those?

This is really easy to do if you have plastic drain piping from the sink to the trap adapter in the wall.