talk to the dept of health first (records requirements etc), establish what upgrades/maintenance required, line up a reliable repair/handyman/type person, consult lawyer, and then make your offer, see if you can buy the land it's on via lot line adjustment (ideal scenario). a lot to be aware of, such as system upgrades or county code changes bringing in the requirement to add metered connections to an older small system, for just one example.Otherwise- owner doesn't want to manage, I doubt you really do either but could be wrong. 

(Father in-law was an insurance adjuster)

Decide on how you will manage and adjust your P/L estimates accordingly.e. 

So lets say 10Y remains at 4 for the next 10 years, we would see more volatility in main street real economy because they are not fully adjusted to higher interest economy environment YET.t

I’m licensed in NJ and the practice exams had identical questions to the actual test.

We are always concerned with ‘risk adjusted’ return, rather than pure LOI.  

The only adjustments I made were adding a couple additional rows of data at the very bottom of each page to track what I paid in principal each month, and what my net cash flow after that was.

I am definitely not pro adjustable rate interest financing.A newbie investor may not see very much flexibility in some lenders,  like someone who has a larger portfolio might be able to accomplish.The reason I mentioned both together is the lender is basically a partner in the deal- a senior partner in a way.

If it were sold through normal real estate brokerage firms, we would have to pay 6% commission, therefore I deducted 6% from the appraised value to arrive at an adjusted value  of $436,160.   

You can't speak to lender or adjuster.