It's good to see you're concerned about your financial future.

Now it's a one-industry gig again, and that is always a bit concerning...

The property under contract:  I found a 3/1 930sqft pre-foreclosure bungalow off MLS listed at $185k, I am using conventional financing but was able to beat out a cash buyer by asking the wholesaler what profits they were expecting to make and cutting them a $10k check and entering into a contract with the homeowner directly at $175k.

The banks and everyone else involved ie, Auction.com, are getting a huge cut from the beginning.

I'm a firm believer that there are many deals to be had because at first glance most investors are looking for something more straightforward, like "I like this house because all the walls are open and I can see what's wrong and what it'll cost me".are there any issues I should be concerned with in having a 6 year tenant other than the tenant looking to move out soon?

Rising oceans are a real concern but I'm betting it takes longer than 3 years for Charleston.   

I am concerned because it looks like the cracks include a shift of about an inch or so but I have zero experience with these things.

My concern is damage and changes of tenants. 

It was finally settled just this past October (2018) and a check was cut payable to both the owner of the building and the primary mortgagee, the bank. 

I assume you mean some kind of code violation but that rarely has any impact on anything other than to cut your lawn by the deadline the code enforcer told you to cut it by or, to remove the car on blocks from the driveway.Open permits?