I have a potential property im looking at that is one side of a duplex and is 3 beds 3 bath (1500 sq ft) with potential for a 4th bedroom in basement according to realtor.

The only thing out of state I would consider is PA cause it's still on the up and you can potentially hold and rent anything that doesn't sell for a decent rate where the rules/laws are better.

S-Corps not so much, but still you should question whether the cost is worth it.

Hey all, I received an application from a potential tenant.

I have a potential property im looking at that is one side of a duplex and is 3 beds 3 bath (1500 sq ft) with potential for a 4th bedroom in basement according to realtor.

A lot of times the lowest rate lenders actually have higher fees and closing costs, offsetting their low rate anyway.

I tend to say no to the wind, but look at costs vs coverage and the language used.Best of luck!

My question is if inspection turns up foundation damage will cost much more than what I expect and budgeted for... 

Before you buy you 1st build you awareness of real estate investing, potential team members that you will need over the journey that will likely last the rest of your life and commence recruiting people and investing time seeking out knowledge and WISDOM.Wisdom would say buy in the down cycles of the market and refi cheap when rates are low but investors often have ants in their pants.  

., won't credit you the cost to fix, a delay longer than 30 days while the bank is processing "re-inspection', ETC) than you can cancel the contract and receive your escrow back.