I have read that REO property are very strict on inspection contingency is this still the case or have anyone seen different?

And if I am strictly a Buyer's Agent, which I want to be, as I only want to work with investors, I know that's the best way to go.

I plan to re-kindle this relationship and work on deals for free for him as I know he has a lot of capital from a very successful exit earlier in his career.During this time without a strict job I also want to travel to different cities (funded mostly by credit card points and crashing on friends/family couches).

The township can be a little hard to deal with, as  they are always very strict with U&O inspections etc but overall its a good area for cashflow, and possibly appreciation (although I personally wouldn't hold your breath for massive appreciation there). 

I will feel out how strict her bank is with due on sale.

if you’re strictly looking for gutters I use Richmark guttersI’m not sure if they do box gutters or not.They always have done great work 

Is this too strict in terms of analyzing?

There are very strict regulations for Rental Properties, inspections, permits Etc. 

I wouldn't buy for appreciation at this moment in time because who knows when the next correction will come...many think it will be sooner rather than later.....if you are able to buy for cashflow right now in Philly that can definitely be your hedge against the coming correction.Full disclosure...I am NOT an expert....I have 2 units in the SF Bay Area that I have for cashflow and am hoping for appreciation...but if they don't appreciate I still have positive cashflow on one unit and I'm barely below cashflow on the other......In Cleveland I have 6 units and all are strictly for cashflow and they are all between the 2% to 3% rule.

Both BankNewport and Freedom National are portfolio lenders so don't need to conform to the federal agencies, i.e. their underwriting standards are not as strict.