Ironically, the big banks (Bank of America, Chase, etc) limit you based on your available income, cash, and credit but they don't really care if you know what you're doing.  

If it's built in the 60's likely galvanized water pipes including a main running to the street, lead based paint remediation issues, electrical, code upgrades might be required for sprinkler systems, cast iron sewer that needs to be replaced etc. 

He ironically used to rep the foundation company but dropped them as a client.The point of this is he gave me some sage advice.He asked me whst did I ultimately want to do.

If you read more closely you will see that I am lining up the funding.I have done over 100 deals (biggest deal of which is a $6M acquisition) and the way I do it - is I don't wait until I have every single thing ironed out before I proceed.

Currently they are meeting at Iron Hill on the Riverfront.

You might already have these figured out but if not, it'd be a good idea to iron it out. 

So things vary, as they often do, and there is really no iron rule.

I got the inspection report back stating roof was approximately 8 years old (supposed to be new), furnace approximlatey 15 years old, AC unit 10, soffits hanging down, rotted door threshold, bedroom door that doens't latch, front door that has gaps to the exterior, electrical ground cut, a/c condenser line broken, basement foundation cracked, counter tops lift off (not sealed to cabinet), toilet loose, driveway and walkway leading to front door cracked, iron sewer line leaking, bathroom sink has leak in pipe (in the line, under the sinkbowl) and a few other items.I know not everything on the inspection report is a big deal, and inspection reports always have items on there, but..................... what concerns me is the fact that the roof was marketed to me as being new and is not, its approximately 8 years old.... the HVAC was marketed to me as being under 5 years old and its not...... its over 5 years old (with issues), counter tops weren't sealed to cabinets,soffits were supposed to be repaired (according to the scope of work) , and the foundation is cracked (which could or could not be a big deal).  

Ironically enough, I'm scheduled to close on my first duplex in Greenville in less than 30 days!

Plumbing had been replaced with pvc thruout, but the inspector did mention drain line being black iron.