I have been burned already by a local Web designer so any input will be appreciated.

The hard part is the price negotiations, the appraisal negotiations, the inspection negotiations as well as working with engineers, mortgage brokers, surveyors, etc.  

What is your number one burning question?

NC is a lot tougher with licensing, but I believe the owner may file for the permit him/herself - If it is structural you will need an architect or engineer anyway.

So, my thinking is (while I'm waiting to meet their monthly free cash flow and reserves requirements) that I would ask BP note investors a few questions: Would you invest in an individual with a professional degree (MBA, MD, Law, Dentist, or Engineer) directly?

A 2700 SF brick house burned in my neighborhood and owner is selling it for 45k.  

This lot, in my and everyone else's opinion (architect, engineer, real estate agent friends), is at least, if not more, desirable than others available.

I've been an engineering for over 7 years, working the 9-5 and sitting traffic.  

How long do you think I can keep talking to broken 6 or 8 year olds and get them to say in a courtroom to 20 folks the details of how mom's boyfriend raped them before I get burned out and want to retire? 

That will cost a ton and require environmental engineers.It might be worth it to pay a few hundred dollars to a civil engineer or surveyor to do this search for you.