Now, why is this a big deal when FHA already offers a 3.5% down product?

Personally and this is just my opinion, but I am not a fan of 100% financing as gives you no liquidity and not many options if you needed to exit the deal for some reason. 

If you have a lot of doors, any claims you're paying out (again, with your time spent dealing with issues) are generally offset by the premiums you're collecting from doors that don't require any or much attention.The fee structure should be transparent and easy to understand, and it certainly should be on the PMCs radar to avoid "project management" when possible. 

NOT a big deal, Scrap and paint the windows or better yet just replace them.

I advise you to definitely be careful when dealing with John Jackson .

If these are the terms that make your deal work, @Duane A.

I found this deal on the community listings!

I have been working on sourcing deals in Lafayette as well, but the market is pretty thin here compared to the options even just on the MLS in Indy. 

On one hand, you want something local to learn the ropes, on the other hand, I'm not sure if there are good deals out there for the beginner.

As I shared initially, if you have not purchased your first property, focus on building your industry relationships and deal sourcing.