My parents live near a horse barn (probably 300 yards away) and the barn manager doesn't keep the place very clean.

While the tenants kept the insides of the units we saw clean, the outside of the building (and plumbing and electrical) require tons of work.

not a hoarder occupied meth-den that will be worth $20k when it's cleaned up) then you or someone else purchased something low and can (eventually) sell high. 

(This is an unofficial duplex)I pay Utilities (Electric, Water, Internet)I want to refinance (possibly cash-out refi) this property and put it under an LLC.I then want to then use my capital to purchase another home using an FHA loan.Can anyone please give me any advise that they think would help guide me through this process.

I’ve been burned by a bad inspector that didn’t open the electrical panel, flush toilets or test the HVAC.

Tenants pay electric, owner pays sewer, water, and garbage (3,800/year).

Underestimated how dirty something that looks clean on camera can be. 

Humidity levels in basement is high at 64%A/C was 40 years of age, not functionalSigns of Ice damming on the garage sheathingFurnace is 19 years of age, unit didnot fire when turned on at the thermostatThe incoming 3-wire electrical systems is considered out of dateNo GFCI outlets anywhere (including in Garage)Walkway has cracking and settlementGarage floor, concrete has typical cracking and settlementBasement floor, has signs of cracking and settlementKnob and tube wiring in the home is considered obsolete and may pose an increased fire hazard.

We added septic, water, and electricity to two lots that had mobile homes on the lots.

Point out that they don't have to fix things, clean up or have a slew of strangers walking through their house.