Rattlesnakes living in the house, holes in the subfloor, dead rabbits in the crawlspace.

I don't want to go down a rabbit hole but you may receive additional benefits from this property besides the cash and equity returns. 

Looking ahead, investors will continue watching for news about medical advances, vaccine developments, government stimulus programs, Fed monetary policy changes, and plans for reopening the economy.

I would also consider baking in terms to your purchase agreement that would provide monetary recourse should you discover a unit physically (or economically) vacant during your final walk-through. 

@Ben ZimmermanI am not going down this rabbit hole again with you.

Weather is great, prices are high, people are A-holes.

And I could go into a very long, boring economic lecture about the current state of monetary policy and economics to explain why.

Add in that it's one more roadblock to a seller to get the money since both sides need to sign on a release, so the buyer has upper hand and can be an a-hole if he wants.I'd still advocate for credit vs repairs.

I know some people are coming across harsh, but it is better to have random internet strangers poke holes in your plan, then to lose a bunch of money on a deal.

There are some very clever tenants out there who will take advantage of any holes in your lease, plus you don't want to be doing anything illegal, right?