Where I'm at we have suburbs of suburbs, all pretty valid for a commute to a major area or commerce or employment.I'm curious of your overall thoughts on commercial property, however; this is the first time that I've seen commercial real estate listed on the BP forums in my short couple of months here so far. 

I will send you a message shortly to see about chatting, I do appreciate the warm welcome from all!

Rates will be more than conventional but less than a short term rehab loan.

If your lease isn't at least 5-10 pages it's too short and will cause you problems with tenants.

I never thought about saving first before investing  :/  Ironically enough I found "Building Wealth One House At A Time" on Amazon shortly after and had no idea it was also associated with Bigger Pockets.

Do I have to let these Mortgage companies know or let them discover it later.Pls advise!

A few weeks later, I discovered that her house was back in the market at a reduced price, so we decided to make a lower offer in order to make this a great buy and hold rental.

It is now cash flowing fine and I was able to extract most of my costs (ended up ~$20k short of extracting all of my costs and that was mostly due to a low refinance appraisal).

I would suggest getting a cash out refinance especially if you are short assets and cash.

In a reasonably short time, you'll get a much better sense of what's acceptable work and what isn't before you give the go-ahead to paint.