Question 3): This would be my cousin's first construction project ever.

If you ever have any questions or suggestions, please feel free to always reach out! 

@Justin Thiesse  those work very well in the right spot and if you can build them efficiently. in some areas and I don't know yours.. but some developers went high end on the storage.kind of like building airplane hangers ( the best rental ever LOL)they built high end for those that have expesnive car habit want a shop to tinker.. need to park their million dollar motor home.. want to build a man cave away from the house..you should see what some folks do to their aircraft hangers.. there should be a reality show on that some pretty awesome ones I have been in.. our is just a hanger..

I can't see myself ever going to someone's house alone, but it seems like it will be very cumbersome to drag someone along with me every time.

I am an active-duty military member preparing to make my first-ever property purchase using my VA loan.

Let me me know if I can ever help you. 

Here are my numbers as it sits:Income:$2600Expenses:$650 - (vacancy, repairs, cap ex, management)$250- taxes and insurance$180- owner paid utilities$300 - my cash flowTOTAL: $1380Left to pay monthly mortgage: $1220So given these numbers I can still get this thing to cash flow, and if for some magical reason I could ever get the city to change the rental license back to save the integrity of the property, this would be a home run! 

I stumbled across the Bigger Pockets site about 6 months ago and have been hooked ever since!

Unfortunately the burden of proof will be upon you if they ever take you to court for declining them.

and like you said you can always renegotiate to meet an under appraisal.And of course in my world it allowed us to 1031 out which, you might guess, is a subject ever so close to my heart :)@Cara Lonsdale as long as you don't get greedy and build in realistic appreciation factors you can even do this buying at retail.