It's when he installs it improperly and causes $30,000 in interior damage.

One night, there was a small fire in the attic caused by faulty wiring.  

That has been a concern as to how long into 2016 I should wait.

I never would have thought attempting to help a tenant out like this could be a legal concern.

Can you describe the appreciation concern in more detail and maybe describe how a "typical" deal is structured in a pro forma?  

It does concern me that I can't walk through the property but I've tried to factor that into my offer. 

I am in the same field, and I got into real estate and think it works fairly well with education (if your job has some flexibility like mine)...I can recall spending like a hundred grueling hours fighting over half someone's deposit in the legal aid office and stalling the eviction an extra week or two on  technicalities (a noble cause for sure), but they still, of course, were evicted eventually with no money.

It is the law in Ohio, and it really doesn't cause any problems. 

The deal becomes far more palatable with a larger spread.I'm not overly concerned with making a killing on this first deal (although obviously it wouldn't hurt), I really am looking at it as an opportunity to get some hands-on experience, and to enhance my ability in assessing repair costs and my knowledge of the local market.

There are other FHA requirements concerning which you should contact your local lender, but determining whether or not a triplex or fourplex meets the self-sufficiency rule is a good place to start as this rule will immediately eliminate many properties from your search.