So, if your scenario actually came to fruition, it would be because of an attorney and, to use an attorney as you suggest to protect one from the actions of attorney seems ironic and poignant.

Ironically, I have identified Winston Salem as a great market as you have done so as well.  

Hardest project to date was an Iron and wood stair railing...never again.

I have collected all of that data above during the evaluation of the deal but did not think of presenting it to the lender in that fashion, I will definitely do that.As we are still ironing out the details with the seller and the deal is not yet under contract, I opted to just go with a general question to a guy who was my closing agent on my primary residence last month.Just to reiterate however, will the bank let me pocket 10k of their loan if the LTV is great?

Ironically, I hated real estate and couldn't wait until I was 13 so I could go work at my grandparents' dairy farm, where I mowed hay, fed calves and milked cows all summer.

@Shaun Reilly I will definitely keep you posted on my travel dates once I get them ironed out.

The owner knew that he should have raised rents but ironically the utility costs were way higher than he expected partly because of my family.  

Roofs need extra layering material (to protect from all the ice and snow), many plumbing systems use cast-iron drains (which are tougher to tie into than PVC), many houses actually have wells for water (ours used to, and now we have to abandon it properly), electrical codes are different (this should actually help us), etc.

If the building still has knob-n-tube, you may have troubles with insurance.Similarly the plumbing could contain lead or galvanized pipe - both of which you will want to budget it replace - on the supply side and galvanized, cast iron or clay on the drain.  

Ironically,just yesterday I was listening to a Joe McCall podcast on coaching.