Loopnet.com has some interesting properties and I love to see what is for sale in my area, but I think I've been looking at loopnet for about 20 years and never ever found a property that was price so I (not my broker) could make a profit.The best way to find a property where you can make the best profit is by putting on some comfortable shoes and literally walk like a real man, unannounced, directly into real estate offices, make it very clear that you are INVESTING FOR DOLLARS, ask what they have for sale and they almost always have what is called 'Pocket Listings' that are properties their good clients want to sell, but they don't want to put the property on an MLS service for some reasons, or they want to see if they can sell the property, first, and then list it on MLS.Most often, the brokers pull something out and then comes the really hard part.

So spitballing, I invest approximately $100K and walk away with $150K.

Just walking around the exterior.....

They steal stupid stuff like people's flip flops. they party late into the night on weekdays. they behave as if residents are there solely to facilitate their good time and buttonhole them for information and directions when they're out walking their pets. they tailgate at the beach access because the hosts are too cheap to pay the association dues. they trespass on resident's property to fish and sightsee then become belligerent when asked to leave. etc etc etc.It really does degrade the character of the neighborhood and the experience of living here during the high season.  

They should have gone through it with you just after they did the inspection and walk through the property with you.A lot of the inspectors use standard forms which makes for a lengthy report most of it with filler. 

After walking through the property with the current owner he told me the Furnaces are original from when he bought it.

I am thinking we as landlords can do the following but I am not even sure if that is enough to get landlords off the hook if a gas explosion does happen:- hire a licensed plumber to inspect for gas leak and gas pressure on an annual basis-install a gas leak detector or alarm in the rental unit-spell out in lease agreement that tenant is prohibited from removing the gas leak detector and tenant must notify landlord immediately if at any point the detector stops working-do semi annual walk through inspection of the rental unit to make sure the gas leak alarm stays installed and is working properly and that the gas stove is working properly.Is there anything else we as landlords can do to minimize our exposure to being sued in the event of a gas explosion in the rental unit ?????  

I'm interested in learning about the pros and cons of accepting the sellers terms and getting is legally decommissioned or walking away from the deal if the risk of buying the property with the underground oil tank is too great. 

Make sure you walk every unit with an inspector and get ALL the paperwork. 

The agent will walk you though the process and should look after your interests including negotiating on your behalf.