Ask your lender for the lock  details and  also ask if they can  lower the rate  even if you locked in  ( they likely cant )  ...good luck

Comps may seem to support a certain rent or price, (high or low) but it may be pulling data from an adjacent neighborhood that's much different.Plenty to choose from here - good cash flows in the lower priced properties, but an awareness that it comes with less appreciation and rent growth potential.

The seller's main concern is that you are a qualified buyer who can close the deal.- The lender: when applying for a primary residence mortgage loan, you are typically required to intend to live in the property as your primary residence for at least 12 months.

For me I’ve found the lower cost to entry to be more desirable in the residential market.

BP Family - I am currently under contract to purchase a long term rental home and will be closing on July 12th.

Lake County has lower property taxes as well.  

If you're looking to do a fix and flip - you'll need to come to the table with at least 10% towards the purchase price + closing costs.

And by doing that, would we be eligible for the lower down payment requirements rather than needing the 20-25% for an investment property?

This only applies to the investment portion of the property.Holding period: The length of time you've owned the property affects whether gains are taxed as short-term (ordinary income rates) or long-term capital gains (generally lower rates).

I believe they stopped using knob and tube wiring sometime in the 40s.Roof - Of course in that amount of years, most likely the roof has been replaced at least a couple times, but this is also a big ticket items to look closely at.Plumbing - I think it was sometime in the 80s when PVC pipes were starting to be widely used.