My name is Akash and I graduated college 4 months ago as a chemical engineer from UCSD.  

Automation of software engineering is possible and, given dramatic advances in AI, it may happen sooner we think. 

By day I am an Electrical Engineer and in my spare time I enjoy expanding my knowledge of personal finance and pursuing various business ideas/opportunities. 

You start with the goals, and reverse engineer the plan, laying out a series of achievable milestones (financial)...then turn around a follow the breadcrumbs.OK.  

Banks and lenders also use experienced Home appraisers and Blue Books to thoroughly appraise them at fair market value.If they're placed on a foundation on a resident owned lot or parcel and certified by an engineer and they're permanently installed on the situs they are no longer considered "CHATTEL" and therefor run with the land in a sales transaction.

The agent was very clear in the loopnet listing that the property has been mothballed since Jan 2014 (almost 2 years) and is in need of significant rehab.For a property like this the question becomes  can the local market rental rates justify the purchase and rehab investment at a return you are satisfied with; a reverse engineering approach.With out even visiting, my quick assessment was that this was a $500-$600K ($200Kish purchase + $300Kish rehab + $100Kish contingency) project and that the local market rental rates would NOT give me the returns I want for the risk.

I'm working with a partner who has terrible credit but their income is good since he's a police officer and engineer for the marines and that didn't satisfy them either.

Now that you've taken the pressure off the seller and they are no longer "in heat" you may have difficulty getting further cooperation since you did not think thus through fully and engineer this prior to spending the money.Now their problem is YOUR problem.

He stated if the buyer had concerns, he should consult an engineer.

So I wanted to see what kind of construction cost,land acquisition, permitting and engineering costs you're seeing.