I am also getting 10k seller credit from seller, and could either use that one to buy down interest rate or just pay off the closing cost. the lender is giving me few option one with higher fund at closing and lower interest rate, and one with lower fund at closing with higher interest rate (about 0.2% difference) With the high interest rate right now, do you think it is better to do higher interest rate, and refinance later or should I just try to get as low as interest rate as possible and do not worry about refinance ? 

I would reccommend protecting yourself in terms of the legality of the transfer, ensuring there aren't any violations, 3rd parties requesting some claim of ownership of the property, most importantly the structural integrity of the property overall is sound and there aren't any big ticket items the current owner should righfully be taking care of that will then be additional issues you inherit. 

I've mainly looked at Home Depot/Lowes for flooring and larger items and got hardware like knobs, faucets from amazon/wayfair but curious to hear where you all get your materials fromAlso, need to get a double vanity for master bathroom, any recommendations?

Or alderman allowing case by case currently city wide but the regulations would make it a right of property owners without alderman approval needed? 

Currently have 20k in a HYSA and another 20k split between Rollover IRA (7k), Roth IRA (10k) , Traditional/Roth 401k (5k).

The ROI is fairly low ( 6.8%) and the value seems flat.

You read the current minimum size for a buildable lot in the code requirements outside urban areas, specially when septic is involved, and these lots simply don’t pass.

Any advice on achieving conservative underwriting in the market that we're currently in?

Like Terrence mentioned, if it will be your primary residence then you can take advantage of the low downpayment options and better pricing. 

Ken,I currently invest in option b-notes and found this to be the simplest so far.