The seller is blowing smoke your inspection revealed foundation cracks, that isn't how a floating floor works, maybe this guy thinks it is literally floating but he is either dumb or trying to take advantage of your inexperience. 

Hmmm, I guess I thought of a few more Absentee Owner/Mgr Assemble lots Assumable Loan Boarded up Property Bought other Property Burnt Out Landlord Buying New Home Condemned Property Competitive Property Deferred Maintenance Delinquent Mortgage Development Ready Disappearing For Sales Economic Problems Fire Damaged For Rent Signs & Ads FSBO Signs Good Area - Ugly Home Hard Money Loans House Smells Bad Inexperience - repairs Investor - No Upside Lack of Concern Landlord Problems Location is bad Low Equity Property Management Problems MLS-Expired MLS-Junker Properties MLS-Listed too long MLS-Motivated Seller Negative Cash Flow Neglected Property Non-Qualifying Loan Old Property Over Priced Property Owner Will Carry Private Mortgage Property near yours RE Taxes too high Restrictive Covenants Rundown property Sell personal property Seller worried - taxes Subdivide - sell part.

Yeah so generally (at least where I am in the country and I am not sure if it changes depending on state, city, etc) there is a 1.05% PMI rate that I am unable to add and maybe that is due to my inexperience with the new layout of th calculator. 

You need to become an expert as people will want to know there money is in experience and capable hands.Also as per SEC regulations you can’t just start reaching out to people to invest with you.

You just need to account for your own inexperience.

You really dont want to hurt the seller in any way due to your inexperience. 

You WILL have considerable headaches, even if things go relatively smoothly...the inexperience and distance make this an absolute certainty. 

Inexperience investors will get higher rates because of the higher risk.

Although thats may be an opportunity, many wont know how to get it due to inexperience

The goal being to reach some level of financial independence to be able to focus full-time on real estate investing after 5 to 10 years, at which point we would be looking to take salaries from our venture.Would be very interested in experiences setting up a business entity - things you wished you knew when you got started, things you'd have done differently, especially best way to take advantage of taxes.