You always want competition from a number of fish; not the only fish in the pond on the day you need a contract.This is not a state with high wage earners like NY/ CA/ DC, so even one additional line item can affect profit.

Chrome Faucets as opposed to Oil Rubbed Bronze or Nickel4.

I want to live in a nice house on some land ideally with a place I can go fishing.

Here in NJ, underground oil tanks are a big concern when I'm purchasing an older house; I've always performed an oil tank sweep before I purchase a property.Does Cincinnati have the same concern, i.e. are there a lot of properties in Cincinnati that have underground oil tanks?

There are some research you may want to consider -  are there an oil tank, any open violations and ect? 

It is listed as a lakefront property, but the lake it is on is only 4 feet deep, and doesn't hold any fish, nor could you really boat on it (that doesn't really count as a lake in MN if you ask me).My feeling is that this place is really worth about $325K (tax assessed value for this year is $304K).Am I a jerk for wanting to offer $270K less than their asking price (pending our walkthrough tonight goes well and we like the property)? 

If competency is an issue, you may have bigger fish to fry.In re: probate, you can use sub-2 language to make closing conditional on probate outcome and ability to convey fee simple title to 100% of the house. 

It helped that the walls had an oil-based paint underneath.

i suspect oil from the surface lot has been accumulating in this basin.

Take a bigger step.Go bigger and target 5+ units, commercial side.Consider not buying turnkey properties, find some properties that need some value add or have been neglected.Cast a wider fishing net and search for properties in the county and surrounding counties where you may move too.Understand the local tenant and state lawsConnect with brokers, mtg brokers, property mgmt companies, other investors or potential partners.