My bank said I will NOT be impacted as the Federal Gov't lay this out in the act.   

FHA is a government-backed program so yeah it's legitimate.

It's possible that your state has one too, but "familial status" is a protected class at the federal level, so I'm not sure how that would help.The bottom line is that prohibiting tenants with kids from renting is likely to get you into a world of hurt.Multifamily housing of two to four units, where one of the units is owner-occupied, is exempt from the federal Fair Housing Act. 

Obviously every different area could have different rules and laws that govern these things so check with the local jurisdiction and attorney to be sure. 

You own them, you fix them.I realize people put all sorts of crazy stuff in their leases, but be aware that laws govern what you can and cannot put in your lease.

I'm going to call the self help law library of another county as Navajo County doesn't have that and see what they can tell me as state laws governing the tax lien foreclosures are the same in each county. 

I understand Norfolk is no Maliu beach, but if (a) there are a lot of low income people that qualify for Section 8 and (b) government is directly giving you 95% of the rent and (c) the tenant has little incentive to misbehave because they could lose the priviledge of Section 8, then what's the ultimate problem?  

Government assistance, sec 8, higher education financial assistance and associated student housing will offer new opportunities.I grew up in a city which was very diverse in Boston but now I am seeing a call in the suburbs for more affordable housing for "new" residents... yes it was a campaign.

This is something to be aware of with Sec. 8 or anytime federal funds are involved with housing as the unit can be disqualified. :)   

"As-is" has to do with the state of the property not the contract that governs the sale.