Just be careful out there and know the laws.

A hard money lender won't care what your income is if you find someone willing to sell their house for a dollar right?

I did get an inspection and there is a plumbing issue that the city needs to take care of.  

And I don't know why you'd care if your house looks like other houses.

I'd also find out if this is temporary (ie one of them lost their job and is looking for a new one) or if it is permanent (ie they are moving in so the parents can help take care of the kids while the parents work).

Real estate tends to be balance sheet heavy and you want a bookkeeping company that specializes in real estate.

I never thought about joint a management company though.

Just know that this is effectively what you are doing.First of all, see if electing an S-Corp for the management company is right for you. 

Review your purchase agreement carefully to assess the seller's disclosures.

There are a few Home Warranty companies such as American Home Shield, First American Home Warranty, Choice Home Warranty, Old Republican Home Protection, just to name a few.