I've not seen the house, but know the area and it is a good area (B-/C) near the airport, schools are meh to bad (4, 4, 2).  

Is this considered an A/B/C type of neighborhood?

@Carl C.

The property in its current condition is a C in a B neighborhood.The price is $195,000 and I have 25% down.Where this is my first property I want constructive criticisms and analyses from more seasoned investors.

When you are analyzing this type of deal, you will want to look at the (a) cash flows that can be produced, (b) the credit (look at the credit metrics on their balance sheet, ie. debt-to-equity ratio, quick ratio, free cash flows) quality of the tenant, (c) scrutinize the guarantor.  

Arguably, the long term pay increase differential between class A and class C dwellers is no more than 2%.

The bank might not want to put in writing that they are waiving their right to acceleration (due on sale) b/c of regulatory issues.

The entity elected to file as C corporation in previous years.

Right, I was alluding to the general rule that nicer, more expensive areas are usually better for flipping and investments in cheaper B or C class neighborhoods are generally better used as rentals.Well if it's as a good a deal as you think it is I'm sure you'll have no trouble finding someone to partner with.

@Alex C. hey I Emailed you :)