Probably worth nothing, I have an accounting and economics Major / Minor so I am definitely enjoy the numbers.  

If I have to abide by the limit, then the economics do not make sense.However, CMX-3 zoning allows me to apply for permits for a single room occupancy (SRO) purpose and a Visitor Accomodations purpose, thus allowing me to rent it out to more than 3 unrelated people at a time.

I am NOT an expert in construction by any means - I only know enough to be dangerous.

When you buy property that is well located in a market with diverse economic base, that is growing, that has many attractive features, and is reasonably priced compared to the average income for the area, you set yourself up for success. 

I am not an expert but the county does not due appraisals, they would do an assessed value which is generally lower than an appraisal.  

Try to focus on the price range you want to work, meaning don't look at $50K mobile homes and $1,000,000 listings, if your target market is $200k-$400K, become an expert in that market.

Any Foreclosure expert who would guide me through the property documents and advise

As a beginner however, I am creating this post, hoping to benefit from some expert advice so that I am confident and prepared before moving forward.Roughly, I have decided I would like to purchase five properties in London (averaging $275K per property) in cash, and rent them out.

Focus on a couple of areas and become an expert in those areas.  

I have a potential seller for an awesome wholesaling opportunity and it does happen to be my first. The home will need an extensive exterior rehab and I still have to go take a look at the interior tomorrow at 11am. A...