I would recommend for your first deal that you scrounge up the $35K and buy it all cash so that you have the confidence to take your time and make some mistakes without having an HML lender breathing down your neck!

Seems like there is a breathe of knowledge and experience on here.

May be most sensible to take a deep breath and just do the work.

FHA lowers borrowers’ mortgage insurance premiumsWASHINGTON – Jan. 9, 2017 – Lower costs are coming for homebuyers seeking a Federal Housing Administration-insured (FHA) mortgage.FHA announced that it's cutting annual premiums for mortgage insurance from 0.85 percent to 0.60 percent, a move the National Association of Realtors® (NAR) says breathes new life into the program.

So i have breathing room.  

They came home to their dog very sick and unable to breathe and eventually they found themselves in the same predicament.

First off, keep saving money and keep the lifestyle in check that way you have that extra breathing room to invest.What are your career goals, if any?

Get out there with a glass of water and breath deep, this is the real fountain of youth. 

Sometimes you will see utilities checked this way when a house is a HUD house.As for breath of contract, what does your contract say?

Deep breath...one day at a time!