This is good because 1) no additional re portable income 2) I know if a tenant is serious or not if they go online and actually do it.

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.

Which leads to a series of additional steps, like annexation, zoning, densities, utilities (water, sewer, electric) and entitlements.A real estate developer is your best bet as a resource to conduct the initial due diligence and go into a deeper dive to define the project or projects best suited for the property. 

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.