other than 3rd party expsenses and EM  have you paid the lender a app  fee or commitment fee or anything of that nature.. or just the apprasial and inspection ? 

She does not want to be a landlord but she talks with landlords on a daily basis naturally at her job.

Nature of the client visit (is it just to discuss business or will there be things like physical training, therapy, etc.)

I already spoke to the zoning officer, the nature of my business is allowed under the zoning regulation.

They are appraising as 3 bedroom, not sure how that works. 4) The AC is 16 years old and will probably need to be replaced soon 5) The hot water heater is also old 6) Crawl looks clean but there are rodent boxes down there-like the ones you see near businesses so wondering about that 7) The house was in disarray, needs new carpeting and paint and some work in kitchen, no hardwoods.Would need upgrading if re-selling 8) master is odd, no linen closet in bathroom but there is one in master bedroom 9) no laundry room- they have the laundry in a bathroom in the kitchen. 10) The entry is odd and unusually narrow, as if they enlarged a room and it encroaches on the entry. 11) bathrooms are small.

Only now, with tons of experience and a sizeable infrastructure around me, am I even starting to think about OPM.I know many investors are much more aggressive than I am, but their natural constituents are family & friends. 

We purchased a rental house that has a capped natural gas line sticking out of the floor along one of the walls in the kitchen.

Student housing is more difficult to get financed these days due to remote learning, shorter-term leases, and the fleeting nature of students. 

However I like your conservative nature and your friends advice.. stuff happens just does..

population is always growing and land is a natural resource.