I understand that there are so many unknowns when it comes to real estate and nothing is easy, but I didn’t anticipate this scope of work for my first deal.

Any unknown risks associated that I am not thinking about?

If you are looking for a cash flowing property for personal investment then I would recommend looking at something post 1980 with less unknowns.

They don’t want to change to scope of work, which is ridiculous, since you almost always come across unknown issues when doing a renovation.  

You don't ever have to have an inspection when buying with cash, but it helps avoid unknown repairs that may have been missed.

I'm more afraid of the security aspect of having the unknown come and go constantly.

I don't think we know where it will all flush out.. but in the short term it will hurt sales as folks will be afraid of the unknown.

More importantly, there will be the unknown potential liabilities of the llc and you will be assuming the llc’s Current basis for depreciation, previous depreciation recapture responsibilities and cap gains basis calculations later.

Interiors of the homes are unknown (fire department boarded up the doors and windows to each home).

However, I would be carefully to choose the right neighborhood and right location, instead of jumping to an unknown neighborhood randomly too soon (in case it is a rough neighborhood).