I am told that if we go under contract, I can review their books during the due diligence phase.  

If you can stomach that initial phase you'll be in a great position when the property is cashflow positive and worth considerably more. 

You're entering into a phase of the investment journey where you want to strike a balance between proper due diligence and avoiding last minute analysis paralysis.

Absolutely I would not spend $$ on a cookbook, not everyone cooks, and it will likely just go in the trash.Also, the first few months are when tenants are in the testing phase, so this isn't the time to show them you are a softy, it's the time to go strictly by the lease, and this is a professional relationship. 

Either negotiate a good price or only pick upgrades that's necessary in the rough phase and do the upgrades with your own subcontractor/vendors after the house closes (kitchen upgrades, appliances, countertop upgrades, flooring upgrades, landscaping upgrades you can get them much cheaper without going through the builder).New construction is a winner if all things are the same. 

Between $100k and $150k, the $25k ceiling is phased out in a straight line.2.

Then a rent up phase interest only.

Scott is referring into this phase only.3.

I'm already stuck in phase one of deciding what market to focus on and get overwhelmed when even deciding where to start my search.I guess my questions to you all are:  1.

I didn't phase that correctly and should have put an emphasis on "Traditional Sale".I am willing to sell but want to do it "creatively" - if you will - to generate funds and positive cash flow from the note I would hold against the property.