Hopefully you at least built some good industry relationships while going through this exercise.  

I wasnt aware of the business plan part but was told it was a requirement if i had no record of business financials (newly formed corp)   Do you have a sample copy of a business plan for lenders?

In the process of BUYING a PURE Option to buy a SFH subject to an existing loan (at a lower fixed long term interest rate)Let say the OPTION "Strike price" to BUY the property IF or WHEN the OPTION is EXERCISED is $300K The seller wants $60K to sell us the OPTION.

Best exercise is going on a job site and working with a contractor line item on pricing.  

Written by attorney investors, it's full of practical advice pertaining to management of investment property, has sample forms that can be edited, and - most importantly - they tell you what your primary state laws are and where you can read them.

I could have easily paid for it, but I did it myself for the exercise.

You can use computer data to help you avoid areas and in fact its not a bad exercise to compare the data to a prospective area vs your current area.

You can network or link up with investors in both states and ask for sample recent deals.

Before a walkthrough and before signing a contract is it appropriate to ask the seller of a small multi family for:1.Rent Roll2.Property Tax Bills3.Utility Bills (last 12 months) (landlord pays all utilities)4.Income & Expense Statements (summary)5.Lease Agreements (Sample or Overview)6.Recent Maintenance Records (summary)7.Capital Improvements Summary

Learn how to analyze a deal, get in contact with some wholesalers/agents and attend walkthroughs and do a "sample analysis" after showings once you get a better idea of rehab costs.