Also, the whole 'can't check for leaks' aspect is a recipe for unhappy surprises, especially since it's clear there is water damage alreadyNow, all that being said, if you are looking for a property you can fix up and then rent or sell, and the seller is willing to drop the price to a level where your rehab costs won't destroy your returns, that's another thing.

My two cents...your level of experience is inconsequential.

If the payroll is for the property manager, then yes, it's far too high and you generally just pay a fee and the management company pays the salary to their employees. 

It sounds like that shouldn't be a huge issue but it is an obstacle you would face and there is a level of subjectivity to it. 

Right now, I hire 2 full-time employees to do the remodeling work for me, and they do maintenance calls, as needed.

Thank you @Greg ScottI did call water co in both states and they said if Tenants do not pay they do not make owner liable. 

That’s not true.Lastly, in many parts of Queens, co-broking is the wild west.

They intercept them at the search engine level and then they sell the "lead" to you.  

Lucky for us, this house was strictly in my wives name because 2 years ago I was a 1099 employee, so she had more solid proof of income.  

What is my level of responsibility.