The architect will have a structural engineer they usually use, you can go ahead and use that person or someone else.After that is done, have your architect draft a bid form/template. 

In theory you should come out ahead in the long run if you use it wisely.

A "heads up" so to say.  

I would love to purchase ASAP but don't want to rush through this process especially since it is my first time.Happy to provide any additional information.

RE is such a local game so knowing the streets and the neighborhoods are very important for your years ahead whether it is to Buy and Hold or to Flip. 

It's nerve-racking, but a rush if you can get it done and help the homeowner avoid losing their home at auction.

If that is the case, why not ask them how they avoid a conflict of interest because as a client you expect them to show you places that are a good rental; however, if they are also looking to buy those places then you don't want to work with them as they will put their interest ahead of yours (the client).

I stay away from those "we need to fund it next week" deals - I do not like to be rushed. 

Great investment getting ahead of the college housing expenses and putting the equivalent rent money to work..If the property is generating income it can be classified as a 'second home.'

If you decide to do this make sure to plan ahead and track the income and expenses separately for each unit since LTR tax treatment is different than STR.