The FAR vacant land contract has a non assignability clause, you'd have to alter that.  

At the moment I'm at 5 pages and it hasn't even been through a lawyer yet to translate it all correctly.The question is, how many rules is too much?

:)Hopefully my lending background will translate somewhat into the investing business, my lending knowledge i would hope also helps when it comes down to trying to get private money. 

Even then, I believe these permits are only needed if you were to alter any electrical, plumbing, framing, and the like.

Translated that means you set yourself up for success or failure by the deal you structure (price and terms) when you buy.  

Must've gotten lost in translation.  

Many investors have used your strategy and at some point they alter that strategy to start accelerated buy down rather than refi.  

Alterations in buildings built before 1978 are generally (if not always) regulated by the EPA:http://www2.epa.gov/lead/renovation-repair-and-pai...If you simply want to know whether the building has lead paint in it you can purchase lead paint test kits at Lowes and Home Depot.You'll also have state specific regulations governing remodeling/renovating activities and licensure.

Just because they do not take cash directly does not mean they do not take work and time which in my eyes translates into cash in the end anyway.

Addressed= I have taken a look at something, but did not alter/fix/etc anything, just spoke to tenant about it/what to do.