Yes more paper work, yes you have to hire a HUD Consultant if over 35k in rehab and yes the lender investigates the contractor for you.

I agree that there is a lot of BS in many of the books, but there are a lot of concepts out there that I wasn’t even aware of until I started my own investigation/education.

If the neighborhood could accommodate a 5th unit and it truly adds to the property for aesthetics as well as utility (i.e. is there a place to park, nearest city utility access, septic system capacity, etc) it would certainly warrant investigating the potential the ROI for building a unit.  

But if you're ok with zero appreciation and cashflowing properties at a low entry price, Waterbury might be a good place for you to further investigate. 

It's a business based on trust as I can give you an example that I have been called lately by OACIQ as they were investigating on a transaction we made to make sure everything was legal.

At first glance, it seems like a good deal and I want to proceed with investigating further, but I am not exactly sure how.

OK, memory hearkens back to yesteryear when my wife and I were investigating a triplex up in Central California.

I have made some further investigations with reference to the reduction of rent during the last week or so.

Are there opportunities to investigate further to get the right set of eyes on it (electrical/structural/plumbing/engineering etc.)5.

For the last seven years I was in law enforcement, starting as a patrol officer and eventually becoming a fire investigator for the State Fire Marshal's office.