I listen to 2-3 RE podcasts a week nowadays (used to be quite a bit more) and stay consistent with what shows I listen to.

What will be make or break feasibility wise for what you're proposing will be:Existing studs - nowadays max 16" O.C. spacing for 2x4 studs on 1st floor is required to carry a 2nd story and roof per 2015 IRC.Your existing truss system would save you a lot of $$$ if you can re-use. 

Its getting hard to find value stocks nowadays in the market and hence I am thinking about buying real estate property.I have around 150k in non-retirement account but I am not sure how much of that I will be willing to put into the RE investment.Also I currently rent an apartment.

I guess the myth among the homeowners nowadays is : screw the mortgage payment and repo ur crib on the sheriff sale. oh well ...

Do I need to find a company that is local (within driving distance), or with technology nowadays can I do everything using a phone, fax, and internet with my feet on my desk?

Talk with the local building and assessor's departments.Second question is whether the septic system (if there is one) is sized for 4 beds.Third question is whether the seller erected a bunch of walls to create the extra beds. 

These clauses are contained, in all Promissory Notes nowadays.

. $225,000 Building 7% sales tax included$ 79,000 Bldg Erection$128,000 Bldg slabs, with rebar.  18 inch footings normal.$432,000 Total Building installed.$51,000 Frost free footings, this new town requires, not included above.Buildings:15x160 2,40040x50 2,00040x40 1,60040x200 8,00030x220 6,60020x30 60020x40 800Total 22,000$432,000 Erected building22,000 Total sq ft$19.64 per sq ftDue to water, sewer lines and drainage, we had to put several small buildings up front. 

They'll let anyone in nowadays, haha!  

Getting a company up and running takes 2 weeks at the most nowadays.