And others have pointed out that building in flood zones can be much more expensive with special permits, requirements like living area starting above base flood elevation, probably more than the $25K difference in the lot that's not in a flood zone.  

Hey @Sophia Oberlander, based on the tax court cases I've seen it would depend on how strong their other hours logged are.

I'm planning to use VAs to help with the first part that you mentioned - qualifying homeowners based on interest in / willingness to sell.

I'm not very familiar with how flat roofs work, but I'm going to relay what my handyman told me, based on what he saw and the account of a tenant who witnessed some of it:-They tore the existing off the roof, did not replace any sheeting.

The  unit is rented consistently and is functional but also needs upgrades, new siding (has 2 layers), Some rooms could benefit from re-wiring and more insulation,   Painting is always an issue as it is not plaster but older thin wallboard. kitchen is fairly new, bathroom could use upgrade, upstairs bedrooms have some pitched ceilings but I don't think based on the foundation/construction it is a candidate for a full second story and it had a new roof a few years ago.

Hey Jeremy, You could refinance based on the new appraised value (not the purchase price) as long as the property has been seasoned for 90 days. 

It should have been communicated between buyer and seller. 

Be sure to eventually narrow down your specific buy-box (your investment property "avatar" based on your Goals, Returns/Appreciation).

And not only extend inspection period, as you noted, but also clearly state that further negotiation can be done based on any issues outlined in report.But overall, based on what you wrote, this sounds like a pretty reasonable seller.

based on what I looked at with the calculator the mortgage is around $2400 monthly not including extra fees. if rent is around 2000 a month you'd definitely be under.