Congratulations on all kinds of levels. 

the lawyer maybe sizing up your experience level or our business acumen..

If you believe you need the extra level of  psychological protection spend the extra money and sleep better at night. 

@Nidhi SinghMy risk tolerance level would say, yes, get some experience before doing that.Things inevitably go unexpected and what do new people often do when things go unexpectedly? 

Since bing under contract we had an inspection that went really well and some minor things will be fixed before closing like painting some exterior and redoing a ground level entry deck. 

I have also done some other research and have read about Fannie Mae home-style loan which basically encompasses what I have been saying and combines the cost of a "fix-er-upper" and the cost of said repairs, and wondered if this is common.

Would typically need to have your project at a minimally complete level. 

Depending on what kind of neighborhoods you want to invest in you can but they will be C to D level areas. 

I call BS on their entire operation AND yes I have considerable and extensive experience at the fund level and SEC compliance, I have been retained by several funds in a managing capacity.

@Noi K. a lot of brokerages have gotten aggressive with their listing rates, which vary SIGNIFICANTLY between brokerages and even agents within those brokerages depending on level of autonomy.