A functioning lock is absolutely a condition of habitability as much as running water or heat.

That trailer could possibly be built on the only 1,300 square feet of habitable land available, and the rest could be marshland. 

When inquiring about a specific property that is in need of major "cosmetic" repairs/ replacement:*drywall damage*holes in interior doors*tile missing in shower*disgusting rugs*peeling vinyl flooringAll things we have experience in replacing, however would this affect the possibility of getting a conventional or VA loan due to the clause "No major issues affecting safety, soundness, and habitability"?

Most have no idea how to be responsible renters and see no harm in never cleaning bathtubs  or putting up murals and hanging bikes from ceilings.

Make sure you are financially sound though prior to investing as those habits will be very important to being sure you don't get in over your head.

Thanks for the response and I will make sure to always practice good credit habits.  

LLC is helpful or harmful from a loan approval standpoint.

Go to events and talk to people actively working in the business and they are usually happy to discuss their routines, habits, and rituals to be successful.

How could a (licensed appraiser )harm or benefit the project.

Make sure that there are no conditions that would harm the property.