The 25K would go towards a rate buy down.As far as accounting for cap ex and maintenance for newly replaced/updated items, I'd still recommend doing it.

Probate in CA is another item last I've heard its around 46K fee for a 1 mil gross estate.  

Tech for most part is just a deployment item not innovation, utilizing tech to automate and do, more efficiently, what was done in antiquated manners. 

It felt like a no-brainer for the value of the land, but being able to utilize a traditional mortgage because there was a clean yet simple 3 bed 2 bath house on the lot made the deal even sweeter!

So far, we have received this advise from appraisers in the Maple Heights area: 1) Attach all offers so the next appraiser can better understand the market value, 2) Provide a letter from the Maple Heights Building Department discussing the addition of the egress window making the bedroom conforming livable space, 3) provide comps for similar properties sold in the Maple Heights area (these do not have egress windows), and 4) create an itemized list of improvements and cost for renovations to the property.We are grateful to the Bigger Pockets community for their advice as well. 

If I were you (and you meet the items listed above), I would definitely still move forward with licensing since you already have the property.

STRs are difficult for a traditional LTR PMC to properly manage!

He should be familiar with doing developments that you are looking to build and give you ballparks for each line item if not find one that is able to do that.

I do however, have full availability on my HELOC, various credit cards that are offering me 0% balance transfer checks for up to 12 months, and various retirement funds (Roth IRA, traditional 401k, etc.)I'm already a homeowner in SoCal, but I want to buy my first LTR SFR someplace like Cleveland since the price point is attractive.

For instance, not knowing what type of panels are on the naughty list in the eyes of the lender will trip you up during a DD period if you haven't underwritten your line item expense of replacing them.