Place has beautiful natural hardwood floors.  

The bank wants to know you had the discipline to save the money and have "Skin in the game."

It just all depends on the numbers - capital amount, expected return, nature of the investments you wish to make, etc.

I really want to keep them out of the 203k loan because I don't think we're getting good pricing from the contractor.  1 - 2.5 ton Goodman R410 14 SEER Heat Pump System2 - 80% 80k BTU Natural Gas Furnace Coils (I assume the A/C condensers are included here too)He wants over $15k ($9k parts $6k labor) to replace the three outside units and the furnace coils. 

I'd use natural wood cabinets (solid with long handles or shaker style/ painted or natural) just because they never go out of style and in case of abuse, are less expensive to replace/repair.

You could probably get  commercial loan with some local banks if you could bring in a partner at 20% and you at 5%.But be wary of going into this by the skin of your teeth.

I'm pretty set on Vancouver or Burnaby, I just really prefer urban living, and I love being by the ocean for lifestyle as well as health reasons (dry thin air doesn't do my skin or lungs any good).  

What the "few google searches" did not turn out is premises liability for Landlords, which may include natural, latent conditions that are present on the property if known by the Landlord and could have reasonably be fixed by the landlord.

Put skin in the game and be ready and willing to close.

Morris county, NJ has a great combination of natural landscapes, A and B residents, and a growing job market.