Investment Property Pre-Acquisition Due Diligence

I'm considering acquiring an investment {{property_category}} in {{market}}. Create a detailed pre-acquisition due diligence framework covering: 1) legal title verification and encumbrance check, 2) tenant lease audit (terms, defaults, renewal dates), 3) rental income verification and historical vacancy rates, 4) structural and mechanical inspection requirements, 5) regulatory compliance (zoning, permits, safety codes), 6) title transfer and transaction costs breakdown, and 7) red flags to walk away. Format as a prioritized checklist with pass/fail criteria.