Definitely check the things on your list, plus I would add to look for any water penetration, termites, check the windows and the structural integrity (foundation, floor joists, framing, any bowing walls, sagging floors, dry rot, etc.).

It's not quite so cut and dry to refinance Sub2 deals, most banks don't understand even when they say they do.

The owner said it is possible to connect to the city water as it runs along the main road however that is 150 feet from the main rd.I am concerned about, maintenance, the well running dry, quality of water and my lack of experience in regards to wells.If connecting to the city water is possible I am concerned about the total costs and time to get it in place.2.

One requirement is that you have to report to the IRS/Treasury any foreign accounts that you have in excess of $10,000Good luck in your search for a CPA and core 4

If you have more excess income, that will improve your DTI. 

Some of the items are lululemon which say specifically not to dry. 

BUT, I am currently cash dry and I do not want to lose this opportunity. 

California charges a minimum tax of $800 a year per LLC, and more if you have gross receipts in excess of $250k.

While I agree cash is meant to be deployed, it's not the rate it earns or doesn't earn in the dry powder stage, it's the opportunity to buy what others can't. 

People have been prophesizing excessive inflation for a decade now and it has not happened.