So, landlords of exempt units don't even have to be concerned at all.   

My only concern to look out for is that things can go 'rural' pretty quickly if you start venturing outside of town, and most lenders are going to put the brakes on financing if the appraisal lists the property as 'rural' (has to do with what they perceive as the availability of future tenants).Watertown, NY - It probably is as good as you believe, but the lending licensing is pretty tricky up there, so its just  bit more difficult to find lenders that operate up there.

As we’re beginning to get a grasp on the scale of the challenges ahead we wanted to highlight a few areas of note and concern that is already influencing the local and national real estate market.

I understand if you want to sell 1 of the lots, but I'm not sure about your concern about paying off the debt so that you own it free and clear. 

yeah the tenant pushing back is my concern. it just so happened that this happened with the tenant that seems to not like paying. and the heating is electric and this winter has been extremely cold which caused the electric bill to jump up to $800!

He does not state what his experience level is, but I have a feeling that this deal would have taken a beginner about 12 months to complete. 

Given the scope of your work, a simple plumbing leak would not concern me, it's a $200 issue at the most and ideally, it's just another line item when you do rough in plumbing for the kitchen.Being in a Milwaukee suburb, I am guessing it's a 1960s ranch, probably with galvanized plumbing.

Continuous flooring concerns generally apply more to wood flooring, where matching is harder and more expensive.

I have most recently read in the last 2 weeks, Poor Dad Rich Dad and Bigger Pockets Invest In Real Estate the Ultimate Beginners Guide to Getting Started.

That is honestly my biggest concern.