The seller has been saying that he has realized how out-of-touch he is with housing prices today, and that future asking prices will be more in line with the market.I think Alpha and Bravo were steals.

One bank doesn't do house/realestate loans but allows an interest only line of credit for 2 years. 3 have property loans attached to them.

I'm using a line of credit to buy them.

Pretty simple exercise to see what comp rent rates are for the area, that will tell you if the numbers are way out of line or not.

Maybe employees that get stock options as part of their compensation, but I'd caution against that.As you gain success in life, you will find a long line of people ready to take your money, your success, or your fame without giving back or contributing. 

You probably wouldn't want to use direct vented gas fired hot water heaters since they carry a bigger price tag, so if you use gas for hot water heating without direct venting your exhaust has to go through the chimney - there are sizing requirements for that and requirements for how to share a chimney; electric hot water heating won't have this issue.Then you have PECO to install gas lines and meters.

If you have relatively flat land and great visibility with sight lines from the road grading as an example could be 100k an acre.

I am ok with commuting up to 30 minutes, so the areas I've been looking has been from the mid Raleigh area (draw a line from NCSU through downtown) all the way down to Clayton, NC.My fear is purchasing a house which doesn't appreciate at all, having trouble selling quickly, or having trouble finding a renter to cover all costs of the house (including a property manager). 

CPA's: Can he get creative here without crossing any lines?

If it's an older building surrounded now or in the past by mature trees with serious root systems, there's a chance the main sewer line to the stretet is leaking.