Lots of vacant homes but I have to do more homework about the community.

Were you looking to attract college kids for the other units?

I’m doing some homework on the real estate business and I’m just trying to get a few answers.

Anyway, only because I know what you can do in the market if you just do your homework, I don't offer anything less than 20%, which, by the way, is even less than what I pay to Lima One at 12%, and other HMLs, but without all the red tape and inspection fees, draw fees, massive points, etc. which drives up the total cost of financing well over 20%

Because if your goal is freedom, the last thing you want to do is be swapping out toilets on Thanksgiving or Christmas Eve when your tenant's kid flushes a toy down the commode. 

Fire damaged properties can be a big undertaking, but there can be good profits in it IF the numbers are right and the buyer has done his/her homework to know what they are getting into.

Look here on BP. you have a lot of homework and the answers can be found here. start searching old threads and key words.

But I do make exceptions, the guy who gets his kids for the Summer and 2 weeks at Christmas and one kid turns 18 this year, etc.

Everything seems to be in line and it looks like you have done your homework, so I would say, don't let a spreadsheet talk you out of a decent deal. 

With 2 young kids I have some self inflicted limitations in the interest of my families stability but i'll keep digging and see what I can find.