Aaron, if the roof line(s) are straight then the foundation should be fine.if you turn the hot water on and the water is clean and strong then your plumbing may be OK. 

The buyer only pays interest so it's all straight profit while your underlying loan is amortized and reducing over time (another pillar of profit). 

Yeah no one should ever send money straight to a "lender".

Diving straight into real estate investing is fantastic.

What percentage of the 3% that the broker brings in from sales should go straight to the brokerage instead of as a commission to the broker? 

I just want to thank you for setting it straight!

Either a walk-out basement or a back door on the main level that goes straight into the stairs to the basement. 

No one here is going to be able to give you a straight answer.In terms of finding good materials at good prices, there are generally areas off the beaten path where contractors go, but it might require a wholesale license.

On the surface it seems straight forward, however, in my experience anything straightforward is almost always not straight forward. 

You’re going to face the highest taxes possible. 1) build and turn it in to a rental for a couple years and then you can exchange it to a new rental. 2) why not build something that can be rented and go straight to renting it out long term to avoid the taxes and selling costs?