I can let you know if it's ever been inspected and what to look out for.MA real estate laws say that you can't rent to a family with kids under 7 unless you have a lead certificate on file with the state and the anti-discrimination laws say you can't not rent to a family because they have a kid under 7 (even if it's because you know there's lead paint), so they basically made it so that any rental with more then 1 bedroom has to be deleaded.

I am also working toward my appraiser's certification at the moment.

Same Day permit can be requested by either you or a contractor, and cover the gamete of rehab activities including plumbing, electrical, HVAC, etc, but they still require inspection in order to get Certificate of Occupancy.

I'm excited to say that I'm starting my first semester at NYU School of Professional Studies for a Graduate Certificate in Real Estate.

There are certificates of elevation that state it is out of the floodplain.

I think our debt to income ratio is right around 27%)also i forgot to mention that we have 5k in both accounts for both properties as emergency funds in case the unexpected happens that we never touch.That is a little financial statement of our life and that doesn’t include my wife’s income which she is getting ready to start earning once she finishes her certification and starts her own practice which will make her income range anywhere from 20k -25k the first few years as she is getting some traction.

In a similar inheritance situation, we had the choice to leave a seasoned mortgage in place, as there is not a due on sale when title (ownership) is transferred through a death certificate.

I get that you're confident in your skills, but if it were me I'd probably still budget for at least 50K.Another issue is that if the exterior needs a lot of work, which I'm assuming means paint, you're going to have an issue getting lead paint certificates for your units, which you are required by law to do.

In addition, if there is a month to month tenant in place I like to get an estoppel certificate. 

There is a six month wait time before a certificate holder can file an ejectment lawsuit.