They will have guides and rules...and of course, fees...for you but you can reach out to each one to find out more information. 

These LOCs will be unsecured and if it means anything, we have no business/investment history, as we're just starting; perhaps lower fee LOCs can be attained from a proven business with a history, or perhaps these fees are high independent of that?

I'm still I bit confused if you can't tellCap rate can be effected by 2 factors: NOI or Purchase Price. the seller is saying you can increase rents to get to a 6.6 Cap rate (in this case it would take NOI being 165k to get there) What you’re doing is keeping the current NOI (132k) and dividing it by a smaller Purchase Price (2M) and getting that same 6.6 Cap rate   

But in doing this, do I factor in the upper unit will have 2 tenants (1 adult, 1 child) and the lower unit will have 4 tenants (1 adult, 3 children)? 

Of course there are other factors such as age... if it was constructed with clay or cast iron tile then most likely tree roots have destroyed it, vacant or not.

If it needs to be bought at 40K to make sense then offer below to cover your wholesale fee

I had recently owned a house for 19yrs but had racked up a ton of debt in attorney fees.

My fear with that is that they could sue me for their attorneys fees if the court sides with them.I’m thinking now I may just contact the heirs and ask them when they’re going to pay.

To help in your search:be sure to find an accountant who is willing to grow with you, and is not too high priced fee-wise.

But since the rentals are on my tax returns, of course it's factored in when getting a new loan.