Also unless you plan on living in the property you will likely not be able to put only 3.5% down you will be looking at closer to 20% down for a strictly investment property.

If anyone could give me any information on a good program or company to go through to learn about home inspection and to get licensed i would appreciate that.

The plan would be to either knock it down (if the inspection comes back as I suspect) or rehab and use as a short term rental/space for visiting family.

By the time you evict (if you have to) and prep for new tenants you will be closer to 2 months vacant plus re-Hab costs.

When it gets closer to us being able to qualify for any kind of mortgage we will probably get with an attorney to understand if an LLC is a good idea right now.

You just need it to be inspected properly.

If the two were renovated there could be a decent difference in quality of the units...I would recommend seeing them prior to offering.However, at the very least you should see it when you get the inspection of the property done if you walk through with the inspector.

I will view the interior of the leased unit when we perform the inspection.

That said, I would think the most important contingency to include in any real estate contract used by an investor would be the general inspection contingency / study period.

But, the new buyers inspection came back and we are being asked to replace these porch columns.