This does a few things: (1) it makes it impossible for the seller to lie on the disclosure about the unpermitted work and (2) it gives you leverage in your negotiations.Of course, the seller could refuse to negotiate with you.

It isn't impossible to obtain lending without a W2 job or other sources of income.

Real Tracs seems impossible to search for certain keywords in descriptions of on market or expired listings, so I’m finding myself wasting a ton of time.

Not impossible, but not always easy for most students.You may be able to get some other loan with less restrictions, but maybe higher down payment like 30% down and probably higher interest rate.

I think this is great advice because each market I look at seems to have pros and cons so it will be impossible to find "the best" market. 

Then, on the evening of the 22nd, I’m told it will be impossible to close on the 24th, and they need an extension until the 26th.

Impossible if your tenant has already run away or refuses to talk.

A lot of people look at a Milwaukee D area with rose coloured glasses and want to call it C to make themselves feel better about it.In my book A neighborhoods are not suitable to rent, new contruction suburbs, downtown lakefront condos, rent to value makes cashflow impossible.

That can make it virtually impossible to evict, or at least, very expensive.If circumstances allow, I'd push to get it under contract now with closing scheduled in 6 months. 

In a market like Austin where homes are listed and sold within 48 hours that's nearly impossible.