In order to obtain marketable title, they have to negotiate or pay off: municipal liens, water & scavenger liens, mechanic liens, property tax liens, HOA liens, building code violations, etc.

The main impediment (that no one has mentioned) is that politicians derive their power from the tax code itself by means of being able to take from one group and give to another.

If not that could get very expensive and it's possible the frames and support would need to be replaced because of the age of the building.Is the building currently grandfathered in with code??

Before these guys were around folks cleaned up after themselves or the landlords did, you probably could but you could be required by local code to have it professionally done before any other occupant can rent.

Pertaining to what your responsibilities are as a landlord pertaining to the TX Property Code-http://www.statutes.legis.state.tx.us/Docs/PR/htm/PR.92.htm#92.258(g) A smoke alarm that is in good working order at the beginning of a tenant's possession is presumed to be in good working order until the tenant requests repair of the smoke alarm as provided by this subchapter.There may also be local city ordinances pertaining to smoke detectors.

Vacancy rates are available for major cities and zip codes, but vacancy rates do not tell you the whole story.

Having access to certain things on the MLS is something that a lot of investors look for, so I've offered to send expired listings, foreclosures, short sales, owner financed lists in whatever zip code or area that the investor is farming or marketing.

Section 10131.1(b)(1)(C) of the CA business and professions code says you need a license when:""The making of eight or more loans in a calendar year from the person's own funds to the public when those loans are held or resold and are secured directly or collaterally by a lien on residential real property consisting of a single dwelling unit in a condominium or cooperative or on any parcel containing only residential buildings if the total number of units on the parcel is four or less. ..."

Also fire safety or better: compliance with building code is a major obstacle.

Then I add the specifics for the property e.g for the recent one I added the lead paint disclosure, pamphlet, I added that it is a historic house so many of the historic features do not meet current code e.g. the banister height is lower than now required, pet addendum to identify the fish, dragon and one dog, etc.