@Christopher Mooney - I house-hack a 2 Unit Building in Bayridge Brooklyn which is a 45 minute subway ride to Manhattan Wall Street Financial District (a 7 mile drive).

This approach will help minimize the potential financial risks associated with renovations and working with contractors.

An agent has an obligation/duty to be honest and deal in good faith.

A terms sheet will tell a pro whether you know what you're talking about and give them a structure of the deal you propose, but it won't establish credibility with respect to your financial ability to pull off the deal.

This implication is if a successful Brrrr results in no Money invested in the property and non negative cash flow when allocating for all expenditures, then price of acquisition is not relevant (because you acquired it at no financial cost).  

How often will you see financials?

I've already had to turn multiple people away after running their credit reports, so I can already see that it's not going to be financially feasible for me to be covering the fees myself.

Payment Terms & Renovation LoansA financial agreement is the backbone of any contract.

They appear to be financial planners.

On the other hand, investing in some repairs (if financially feasible) might significantly increase the property's market value.Remember, each property is unique, and what works for one might not work for another.