People want you to solve their problems, not read them a script.

As Jonathan mentioned, this is a technique for experienced investors, not something a beginner should play around with.

Just your basic 20% down get a loan, etc.I know there are 84 other variables that come into play in making the decision.Does the think tank here have any general pieces of advice?

Having said that, they know how the game is played and that they are messengers for their clients whether that is the buyer or seller.

The safer play is to use financing with healthy contingent reserves built into the loan.The other reason why I recommend using financing (and believe this is more important) is the banking relationships you will build through the process.

You can use a BP calculator to play around with scenarios. 

I just don’t want kids to play with it or someone to set it at 60 trying to cool it down fast, and then forget about the setting.

It's very hard to play the game of real estate without it, and I'd encourage all new investors to work hard to maximize their income upside, and work hard to get into a stable position before obliterating your DTI on a capex nightmare.

Once a town finds out you started without a permit, they can make it hard, so you have to play it up that you had no idea and the contractor did not tell you.ALWAYS.

It isn't a game that can be well played without spending a lot of time and or money.