Additionally, the price point is still cheap enough to find the 1% rule and positive cash flow and there's amazing appreciation potential.

These are professionals with additional training and a stricter code of ethics.

Additional Resources to check, 'FYIs', in case you want to learn more about rezoning in the future)-Look up your address on the city's zoning map here to see how properties in your immediate vicinity are zoned.

Most look at a Certificate of Insurance and confirm coverage limits but best practices are to (1) become added as additional insured under contractors policy and (2) understand coverage exclusions which are not going to be detailed on an insurance certificate.

I have added new electric service, all new plumbing, an additional bathroom, remodeled Kitchen all the way down to the studs, new carpet on the second floor, and new LVP on the first floor.

Letting someone out of the lease is not the same as nullifying that the lease ever occurred; it is just an agreement that you won't go after any additional months of future rents that would otherwise be owed.

Whether the seller was open to a buyer commission or not, I wouldn't put an additional cost into any personal purchase.  

If you have equity and decent credit, a conventional Fannie Mae HomeStyle (or the Freddie Mac version) would likely be the better option instead of an FHA 203k loan (which will require a 3rd party HUD consultant to oversee the deal in addition to having the contractor involved). 

Section 8 would tend to carry higher repair and as a result, additional vacancy.OP’s definition of cash flow is rent minus piti.  

We’re fortunate to have an above-average income and live well below our means.This summer, we’ll be moving to Detroit (PCSing in August), and we’ve saved about $120,000 to invest in addition to having funds set aside for the home we’ll purchase in Detroit.The reason I’m posting is that I’m struggling to decide how to best allocate the $120k.