I would rather have a lawyer review 

I agree w Deanna, they needed to ask your permission to get property inspected for Section 8.If I was in your shoes I would consult a lawyer.

talk to the dept of health first (records requirements etc), establish what upgrades/maintenance required, line up a reliable repair/handyman/type person, consult lawyer, and then make your offer, see if you can buy the land it's on via lot line adjustment (ideal scenario). a lot to be aware of, such as system upgrades or county code changes bringing in the requirement to add metered connections to an older small system, for just one example.Otherwise- owner doesn't want to manage, I doubt you really do either but could be wrong. 

I spoke to a few lawyers and accountants and they said that it is better to start as a LLC Partnership vs starting a S Corp because you need a lot more capital. 

No offense to the brokers out there, but if you can be a lawyer or a doctor while you intelligently invest, and scale, isn't that even better goal? 

talk to your lawyer and cooperate with the police. 

you should also think about learning about JV partners and splitting the profits 50-50 and private lenders getting a rate of 6 to 9 % on IRA moneyHML sometimes it is really hard that's why they call it HardmoneyA lot of doctors and business people lawyers have liquid cash.

Talk to the landlord, I am sure he would want this resolved as soon as possible.Without being a RE lawyer, and without even reading the lease, I would imagine this "pest clause" is referring to spiders and cockroaches inside the house.

The biggest step I would take is contacting a local real estate lawyer to review the contract you have gotten.  

Anybody who says or thinks otherwise is advised to talk to both their CPA & Lawyer for clarification.