But that's the nature of cycles. 

Its the nature of this market.

So I have a question (really more of an accounting question) but since many of you are shockingly savvy and have been involved in many deals i'm hoping to glean some wisdom from people who have maybe been down this road already or been involved in a deal of this nature.

In working with insurance companies I've found that they rarely cover mold issues as they consider it long term or chronic in nature and their policies generally only allow flames of acute or emergency situations i.e. plumbing breaK or leak, wind, fire, tornado, earthquake, hurricane, etc.You may think it's a good deal now but once you start digging into it it's like a dentist digging into a cavity.

And moreover, my father is eager to be involved.That said, it's my first deal, and naturally, I'm anxious about the outcome.

Brokers are trying to close deals and make both sides happy (lender and borrower) so this is completely natural and demonstrates competing motivations.

Patrick, there are basically two types here, those that make their living from real estate activities and those that supplement their income.Not necessairly an active/passive position.

I have a question about the seemingly subjective nature of appraisals.

Also, I did a bit of research and there seems to be less natural disasters there vs other big cities in Tx like Houston and Dallas, correct me if I'm wrong. 

All of the items he listed seems to be cosmetic in nature nothing that can't be corrected..