In my few experiences with DNS inspectors I have seen various personalities, ranging from a mellow, open, and easy going inspector to the other side being a "fight the system" I hate this job but it feed the family type.

I should add that part of the advantage of getting HELOCs over conventional mortgages is that you can borrow much smaller amounts, crucial for someone like me who buys houses in the 15-35K range.

I'd go with neutral only if the colors you chose in specific rooms were very eclectic, difficult to match to a wide range of furniture, and might be  a turnoff to a wide range of renters tastes.

You already said you think the property was worth in the range of $120k-140k so why would you want to potentially pay more for the property than it is worth?

That's obviously a large range, but I'm not sure what the norm is in this area.

We have kept two properties long term, and are interested in getting into multi-family opportunities, and unique properties. 

It provides an appropriate range.  

Even if it is accurate, that's a fairly large range at that price point. 

I think the sweet spot for rentals is in the $125-165K tax range.

Kind of a large range.