Another thing to keep in mind is that the property is in pittsfield so not a booming city such as Boston obviously which is related to why the rents and purchase price is lower.One of my concern is that it is a low cash on cash return I believe for my current situation.

On this property I am not overly concerned with cash flow as much as building equity, though.

I can share the 'details' but  I am concerned because he won't answer my questions directly, he answers with a question... a power play?

This has already delayed my target closing date about a week, which was locked in with the interest rate.My main concerns are as follows:1.  

The house does need exterior paint.My questions and concerns are for those who have had experience with investment properties from this time Period.

I'm a beginner but I also would like the reading to be pretty in depth.

If that is not a concern then having a large negative cash flow is a huge financial and emotional stress.

Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meetSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

Have you already read the Ultimate Beginner's Guide?

He's very concerned the state could take it away and because this land was his parent's land, now his, and he wants it to become ours and later our son's, he's very concerned modern laws will stop this.