I know people walking around in their 40's and 50's still carrying student loan debt at levels that resemble no-money-down car payments. 

And you can buy that property by treating the seller with respect and by being honest.Obviously, there are rip off artists in all walks of life.

However, I was one of the Carlton Sheets "victims"  I was a too good to be true package and I walked away before I started. 

Lenders use over 10 different version of fico so the pull at BOA could be different than Wells Fargo.Also ask yourself does it effect you mentally to walk around with 500 fico ( won't really drop that much) but to me I don't care what my score is.

It would be a three story walk up no elevator.

I did tell him I would have to walk through the property  before making a offer  (for my exist strategy I was thinking wholesaling or sandwich lease option) any input would be helpful  thanks in advance. 

He's like a walking real estate encyclopedia. 

I post on the internet, hospitals, nursing schools and the colleges that are in walking distance to my home. 

I normally walk through the home, figure out the rehab cost, and use that as the justification for why I'm offering what I am. 

The better you know your area the better you will know whether to pull the trigger or walk away.