I would do the LVL on the entry & cheap carpet elsewhere BUT go with the thicker more expensive padding & it will feel plush.We have found most dislike the orange colored floor look & have been using the muted grey tones similar to barn board etc. 

Start small if you are afraid of failure, don't put in more than you can afford and you will build your investing muscle one property at a time

Is it normal for a commercial lender to need over 2 weeks to get preliminary approval to do 10% down?

By hearing the tone and demeanor of others - you'll pick up on what can and cannot be said. 

What kind of tone should the post card have?

I'm paying $22K and it appears to need $5K in repairs.This probably sold for around. $75K in 2007.

That's going to need work soon.If I read the listing correctly, owner pays for heat.

Every time I start to think to myself, "I've seen/done enough to feel good about offering sight unseen", I see something that changes my mind:I looked at a property yesterday, expecting it to need a full cosmetic rehab and maybe a few mechanical items as well (roof, hvac,etc.).

Tone down the rhetoric.

Aside from that, if you know the foundation is going to need work, you should include it in your calculations.RE the property tax - are you sure about the taxes or tax value?