Greyson county was the nearest county that received a "green" rating (using a relative scale from red to green colors... would translate to a 1-5 rating with 5 being best, or green).That piqued my interest at the time, but like you said, "surely there are deals close to me".  

What looks great on paper does not always translate into reality, especially when you are remote and have little true influence.

Would you say this translates over to larger multifamily?

Not exactly stock market fluctuations, but even commercial properties are sensitive to market forces when translating how much that NOI is worth on the open market

This translates into $225/month surplus to cover expenses on all properties.

It sounds like you have some great experience, and I'm sure much of it will translate to your investing career. 

Translation - based on this information I not only can not obtain a loan through this lender because they will not loan because it is not "move-in" ready but I can not even use my small reserves as the downpayment required.I'm now officially stuck...

A bigger point perhaps is the fact that there is so much interest in RE, that interest should translate to support.

I am solidly skilled in do it yourself home renovation and would like to translate these skills into a buy and hold strategy with single and multi-family units in the Lansing and Portland area.

Higher rate would translate to higher monthly payment and we were trying to avoid that.