To stay no or low money down,  I want to get a soft/hard money lender and use that for the down payment.

I would assume it can be tough to keep nice since the wood is soft, especially in a rental.

I’m sure there are other things I’m forgetting at the moment.We have some cash on hand and a soft offer from an investor, though it won’t be enough to purchase the house, it will cover furniture, lawyers, inspections, and other initial setup costs.

Evidence is stacking up that residential real estate has at least hit a soft patch.

Be sure you verify and use your own numbers for projected soft costs like vacancy and maintenance. 

In my opinion, that will be significant, having two major names (soft-branded) ocean front hotels.  

1979 NACU 2bd mobile home.I basically have one concern ~ there is a open pipe on the roof, perhaps once used as plumbing vent (we are unsure where they've been rerouted).There was a nest inside, I poked and prodded, no softness, no mold or mildew within field of view.I'm just somewhat worried, it seems this pipe has been this way for a very long time, it crumbles to the touch.

Figure out their land basis, subtract it and that'll give you a figure for soft costs, hard costs and development fees.

I still think someone can play the low end in this city, unless the rental market is soft.   

Typically, property value add of site control comes AFTER the site is fully entitled for the new development and someone has to funds soft costs--preliminary design architecture fees, design fees, legal fees, potential contractor consultation (to get #s).