I told her I would not commit to anything as I needed to inspect the apartment, have all  keys, and everything must be taken out of the apartment including her two dozen assortment of large voses outside (yes two dozen).

Tina, first off, your end buyers as they were referred to, a buyer who intends to live in a property IS a Dodd Frank matter, you must then see what exceptions MAY apply, as a dealer, YOU as a LENDER are under different requirements with seller financing.There is no seller financing book 101, on BP, none are technical in nature to the underwriting, structure, assessment of security collateral, servicing or any other aspect of seller financing.

Looks like John has given you quite a comprehensive assessment.

The costs included in the $1 million cost figure would be land, construction materials, construction labor, professional fees, permits and so on.INVESTOPEDIA EXPLAINS 'LOAN-TO-COST RATIO - LTC'The LTC ratio helps commercial real estate lenders assess the risk of making a construction loan.

In addition to everything mentioned above I would get a professional thermo-graphic assessment.

Crunch your numbers for several different scenarios to assess how volatile a deal might be. 

I've had the inspection done but it did not assess all the appliances.

Hubert, you're 100% correct on your assessments. 

If this property is a dime a dozen then plenty of other ones to offer on to try and get your price.If you are a rehabber and reseller you will have a tougher time competing against buy and hold investors and home buyers who can pay more and do not have immediate resale costs.

I've been reading everything I can and have listened to maybe a dozen relevant podcasts so far.I'm in my mid thirties and have a full time job, and my goal is to invest in 10-15 buy & holds over the next 15 years, which would allow me to step away from my full-time job by then.