And finally, can anyone recommend an Attorney or Consultant that can really advise ALL OF US on this thread since we have the same question?

Consult with a few different HVAC companies in your area to find the best value.

Consult a competent tax person on this @Tim O'Brien.  

if anyone knows a plumber thats good, id need some contacts. that wouldnt charge for a consultation, need to inspect the sewage in the basement

Currently work as a medical device consultant, but would like to make real estate investing my full time career (sooner then later).

Hello Cincy, I'm a wholesale agent with Reinvest Consultants LLC we specialize in providing you with below market value distressed properties in the tri state area, As for me I invest in 2 Families on the west side and looking for more.

Consult with several individuals including: other real estate investors, private money and hard money lenders, and even a commercial mortgage banker, depending on the number of investment properties you currently own.

The short answer is of someone is going to sue you, they are going to sue you.Do you have an attorney to consult?

See what the seller has in mind, you should have a good idea of the numbers and if you suggest the first number, do it at a number that is good for you & fits firmly inside of your investing goals.If you want to bring your agent in, offer to hire him/her as a consultant for a flat fee, since, generally the agent's fee is paid by the seller.Hope this answered some of your questions.Jesse

Again, please consult a CPA to get the whole story on this.