If you have rentals in NC or in any state for that matter (I'm sure they have similar statutes), I thought you would find this useful:I just had a tenant in North Carolina request to terminate the lease in accordance with North Carolina General Statute 42-45.1, Victim of domestic Violence (http://law.justia.com/codes/north-carolina/2005/ch...).Unfortunately, her email and notice to terminate was invalid.  

Saying it does not matter because the tenant is paying it is bs and why non lenders should not advise on lending matters.

You can pay an out of state inspector to do the job, but more importantly, I'd physically checkout a property no matter where before buying.

Prepare a plan of action, do your numbers and present it in a professional matter and split the profit after the property is sold.

It doesn't matter if they charge 3% interest if they won't approve anything and conversely, if you have to pay 7% interest but can get the deal done it might still be worth doing.Worry about pricing last, risk appetite first.

I would have to return the deposit (less deductions) within 30 days no matter what the circumstances.  

I'm glad your property manager "softened" on the matter, but what you should have done, and your PM should have done, is looked at each other with mortification as you realized that you were ENTIRELY in the wrong.Your tenant gave you an attitude?  

Even though you say you haven't closed yet on a property I believe it's only a matter of time you are learning each time you make a mistake.

@Robert Curls I would do both as it is only a matter of time  before the AC unit goes.

Any light on the matter would be great, thanks!