I'd prefer to have much more breathing room in a deal like that, though cash flow can be expected to be somewhat low with only putting 3.5% down. 

Mold in the laundry area might just be a surface mold problem which can be cured with a disposable breathing mask, some towels, and some bleach spray. 

Those are two things that are simply never going to happen, Avee-Ashanti, so let's agree not to hold our breath together and wait for them, OK?

@Bryan Carleton @Justin Freeman is a CPA out of Brewer, a real estate investor, a BP guy, and lives and breathes taxes.

I have for the last year been reading, studying, eating, breathing all things real estate.

Take a deep breath,...and realize that starting at square one again isn't taking a step backwards. 

Take a deep breath. 

I really want to live and breathe the area, and larger areas i.e. indianapolis feel a bit intimidating to me, also the amount of turnkey companies in this area makes me fear for ability to get good deals from afar.

You want an attorney who lives and breathes lending and securities, and preferably in the state you are lending.This is not unlike finding a doctor, CPA, or any other professional.

Step outside into a pristine Island Environment 5000 miles away from civilization never before touched by Man...you are breathing mold spores in.