One would be to lower purchase price to cover those expenses and get work done after settlement before winter sets in and causes even bigger headaches when things start to fail. 

Under the new tax cuts and jobs act, the same income amount is now in a lower marginal bracket.

Income counts also; even though lenders and appraisers look at comps, a higher or lower cap rate will still affect demand greatly.

Would those initial expenses factor into lowering the offer price?

My mom is selling her home and I am considering becoming the buyer for two reasons: 1) She would sell it to me at a much lower price than another buyer. 2) I can see how I can take it and turn it into a profitable cash flow property.Let me explain: It's an old 1 family home that is very small BUT the lot is big enough to completely demolish the current home and build a house that can easily have 4-5 One Bedroom Apartments which can go for $1,300-1,500/ mo. in the town where the house is located. 

If you can go lower because they are going to have longer term interest, maybe try for that.

I expected some lenders to see that we are seeking to maximize our investment dollars by investing in a lower cost city. 

This is owner occupied situation so I don’t want to lower my standers too much but I also don’t want to have vacant for too long.

My goal right now is to get out of the hassles that come with the "lower end" properties and save on the management burden. 

The website is very friendly and the fees are lower. www.airdna.co is a great source for data that can help you choose a city.