This is a big issue in my area I've built several seven figure custom homes on the site of 1950's ranch homes.

I assume you can roll paint, so while you have these contractors lined up, as them what the cost would be, see what paint costs along with your materials and consider your time, doing this may save you some money on small things you might do yourself, but you can present the bids and the appraisal to base your offer on.You also need to explain that an appraisal is an estimate, not a true value and that you need to make a reasonable profit if you are in the business and justify your offer.Saying older lady doesn't mean much, if she is elderly I suggest you take some additional steps after you get a contract and that is to involve some center of influence, her kids, her attorney or someone who may advise her.

I guess I just need to find out the right direction to take those steps at this point in time.I would love to build a portfolio of cash flowing properties, but at the same time I understand the power of being able to leverage debt and build equity even if the property isn't producing a real strong cash flow at this moment..

If the deal is already under contract you can be back-up and in the event the 1st investor doesn't close on it you can step in then...Kudos,Mary

My goal is to start networking and taking the steps I need to in order for me reach my goal of owning multiple high rise buildings as well as a few smaller multi unit properties.

I know its not as easy to get in to inspect occupied residents particularly seven of them.

I am glad I decided to stop paying low rent and purchase a house before investing to see all the steps involved.

What I think your next step should be is to get together with an experienced investor, tell them you will do all the leg work for them for free!

David, welcome to bigger pockets and congrats on taking your first step into real estate investing.I'm a vateran also and purchased my first 4 family house last July.

I've been really happy with the service and particularly appreciate the step-by-step instructions and explanations while filling out the contracts.