about 1 out of 10 or 20 will be in a situation where they are willing to entertain selling with LO Terms.

Figured it could get fairly entertaining (albeit confusing) if anyone actually ever used such terminology

In your case I would budget for replacement, but entertain the idea of painting them.

He was asking 159,000 and would perhaps entertain owner financing.I want to stay in those areas as I will manage the properties myself and driving over 20 minutes to cut the grass or plow snow is not realistic for me. 

Seller financing won't be entertained because these are both probate sales.  

I actually designed it for entertaining with a double-height great room and mezzanine that looks over into the main space; there is also an art studio with separate entrance that could easily be a 1-bd.

Again good not only for entertainment but also for workers/jobs. 

I did have one lender entertain the possibility of 15% down but we haven't yet gone through evaluation of the deal and company together and no where near underwriting.  

Happy to entertain other areas. 

If the schools, streets, shopping and entertainment areas look like a C, attracting residents to pay the higher rates by upgrading the property to a A/B as you suggest (higher than the surrounding area) is typically not going to work out so well.