In addition to the financials, you also need local area occpancy rates, local CAP rates, etc.Are they giving you any information (e.g.

Ask for additional details as to what wasn’t clean and where the wall damage was.

We shopped for a long time, purchased conventionally and made additional mortgage payments.  

(I'm single so I will be renting out the additional rooms). 

I’m still very young and looking to start building a portfolio, however, I wanted to grab one of these properties and finance, to free up as much of my (soon to be) capital to begin additional projects.

Plus their land value is also a sizable part of their lending weight.

Basically that is coverage that an insurance company provides in the event you have a covered loss to part of your property and when you go to rebuild you have additional costs due to bringing the property up to current city or county codes. 

Of course, this is in addition to everything else that everyone has mentioned. 

Additionally, I have always wanted to start and run my own business, which is what attracted me most to real estate investing. 

@Jacob Budzynski email me if you need additional information