Run a couple scenarios, and if knocking down the house and rebuilding is the most profitable (with an acceptable level of risk), go for it.As for knocking it down yourself, if you have to ask, you probably shouldn't

For this reason, we establish set guidelines up front and then follow them. if we are within the guidelines, we do not seek additional approval for accepting tenants, drafting leases, repairs under the scope amount, etc. 

I don't know of too many commercial lenders that will accept a 28% operating budget for all expenses, they will probably run their debt-coverage test at their pro forma operating expense numbers instead.

Screening is very fast and complete - I can elect to accept CC and set the convenience fee (I do charge a tad above costs), and I find its pretty easy to reconcile a tenants payment via "serial number" or transaction ID reported to the bank with both Rentec accounting AND quickbooks - albeit Quickbooks is still manual for me (you can export from Rentec to Quickbooks via CSV... havent got that far along yet.We literally just completed several rehabs (meaning LOTS of expense), so seeing rents come in quickly and accurately is a relief for a change!

Your attorney will tell you whether or not the POA is acceptable for this transaction.And, you need to be discussing with the seller whether he sent the same offer to everyone and if anyone has accepted.

That's a decision only you can make, depending on how much risk you're willing to accept, how much risk you're willing to buy down, and how much you're willing to pay for it.There is no "One Size Fits All".Also, it kinda depends on what the numbers are.

Also,  I stipulated I would only accept lease of 1 year...nothing shorter or longer as I'm contemplating change in plans for the property after one year.   

A month later, we offered 10K and they accepted.

If they accepts it sits in lender's in basket.

And I’m purchasing my 1st house as my own buyers agent.I’ve managed to get the sales contract done and the seller accepted.