This will allow for a totally hands off operation for the times that we might be out of town during turnovers. 

A flipper bought it, placed it on the market for $399K, gave up 3 years later and sold it at $300K, and negatively cash flowed more than $10K/year losing a total of $100K.

Yes, an entity can be appointed as attorney-in-fact for an individual.My concern about the above... an attorney-in-fact depositing the funds of the principal into their own account would be an obvious breach of fiduciary duty.

We're doing the disclosures now and I was quite surprised at the 2.469% of Loan Amount (points) Origination charge which brings the total Origination charges to $16,500 (Property cost is 645K, 10% down).

I am doing this completely remotely, which has been a massive pain/lesson learned (topic for another day).I signed a very high-level agreement (i.e. expectations simply say "drywall and paint") with him for drywall and paint work at my home for a total of $10KI have paid $5K as a down payment as well as ~$2K in materials over time, as neededThere have been multiple break-in's in the home, and he has done me favors of working with the police, and boarding things up.

One has debts totally $1.8 million including maxed out cc at 19%; with their only asset being a $125,000 401k and $10,000 in “emergency” savings.  

The fire codes are obviously different in our states but if I were to build a fire escape coming off the third floor It would need to extend 10 feet past those windows before descending if those windows aren’t fire rated.

Hi Vadim,There is a conventional/FHA program called a '203k rehab loan' which allows you to purchase a property and wrap in ALL renovation costs INTO the mortgage, so in your example above, the total loan balance would be around $70,000. 

Ideally, investing locally would totally be something we'd prefer to do.

Knowing my end goal is to move to another state (Sperryville or Staunton, VA) and 3-4ish hours away to start a small hobby farm, does it make sense to pay off these properties rapidly in the next 5-6 years so that I have a total clean slate from a lending perspective in order to finance the land, house, and buildings, or does it not matter?