I want to say it'll be good for 120 days (would have to double check), which if you assume a 30 day mortgage process means you need to be ready to refi in 90 days, or you'd have to spend a few hundred bucks on a 442 (FNMA form #s evidently don't change much over time) to confirm it hasn't dropped in value due to changing market conditions in the interim. 

In my market here in Austin, Tx depending on the house type, condition, and part of town I would say usually say Vacancy 7-8%, Repairs 8%, and CapEx 7-9%.

If it is true that the total value of improvements just need to happen over the life of the hold and not within the 10 year timeframe, I think OZs are quite promising.

Mother in laws are already watching you with scrutiny why give her more reason to peer into your life ?

Which makes me nervous about unseen issues like asbestos, lead paint, etc etc.I plan on asking the seller for all of the closing costs - I'm not comfortable with the amount of cash I'd have left over if I have to pay them.I haven't seen the property in person yet so it's hard to say for sure, but from the pictures it looks to be in good condition other than needing some cosmetic work (paint) on the outside.Do I need to have 15k sitting around just in case?

Better to just forget it and move on with life. 

., and general condition.

We can talk more on how to account for condition too.  

You have to find comps that are similar to yours in recently rehabbed condition.

But I'm wanting a better lifestyle and make this my life career.