Toilet leaks, some stuff like that.

Leaks, mold, and lots of hidden problems.

Although of course to get the LOC's its full doc financials etc.But for you lending your own dough this is not something I would even remotely consider personally. 

(For example, a minor leak that when neglected turns into something more significant.)In conclusion, I'm not going to tell you it's all candy canes & lollipops with Section 8, but if you properly vette all of the particulars, in can be something that works for you.

Suppose, for example, the tenant delays in reporting the leaking roof - then you've got mold, damaged ceilings, etc.  

there are some 85% CLTV products out there for full doc and bank statement loans 

Hello,I would like to know where I could obtain a set of docs valid in Florida necessary for purchase and sale of distressed properties (subject to, owner financing, release of information, lease with option to buy, etc.)Thanks for your help

Depending on the lender and whether there is assumable language in the mortgage docs, not likely. 

There's nothing worse then having a plumbing leak and having to rip out all the tile you just put in. 

Full doc, 20% down on purchase and rehab, hard credit pulls, for a loan you intend to get in and out of.