@Bruce WoodruffHi Bruce, The water came up thru the city main when the sewers reached capacity during a recent storm.

Large expense that will come due real quick. 2) Roof 3) Foundation/slab But not a deal breaker, just be aware....most foundation issues are not a big deal. 4) Structural - alterations to load bearing walls, cut trusses in attic, etc 5) Electrical -  Is main panel adequate?

I’m a realtor in CA looking for fix and flip opportunities, mainly in the SFV.

If you arent opposed to doing a long-term rental for a bit, You may want to see if you can get an executed lease for the main house you’re vacating to help qualify for your next home.

What you really want to know is the condition of the lines under the house where they are buried and particularly where they cross the yard and go into the city sewer main.

Mainly, get them out!!! 

@Adam Zach I’ve mainly been cold calling and messaging FRBO’s on Zillow.

And I'm a R/E investor (multifamily, commercial, rental units, mainly 5-20 doors each).  

So my partner and I just bought a 4 bed 2 bath that is broken up into a 3 bed 1 bath (main house) and a mother-in-law suit that is a 1 bed 1 bath.

My question is can I use my own standard lease form modified to reflect the major elements of the existing lease (assuming that the tenant is in agreement) or would I be better advised to keep the exact wording of the existing lease and just change the relevant names and dates?