There would be existing foundation for the new construction to sit on, but otherwise it would need to be totally new, we'd either match the existing wood siding or go with shakes on the rebuild. 

So, I don't have experienced investor feedback to offer, but knowing the Morgantown area, my first thought was to question the exact location of your investment and the length of time the existing businesses have been in business.

I'm interested in rehabing properties and owner occupied benefits.I am very appreciative that this community exists.

The DEC office is a good place to contact as they may have info on existing well depth and septic issues, as well as engineer's reports on specific subdivisions.

I do not discriminate beyond what is necessary to protect both my investment and the best interests of my existing tenants.

I'd like to transition into real estate investment, and that's the reason I'm part of the BP community.But, I'm curious.. for those who are already engaged in RE investment, what tools or technologies do you think the industry could use and benefit from that doesn't really exist yet?

On the other hand, parlaying my existing equity into a portfolio of 3-5 cashflowing properties in the $100K range (with 20-25% down) in other parts of the country -- places like Memphis, KC, Charlotte, etc -- is attractive because if I get in with the right Turn Key companies I could use my cashflow to continue to acquire additional properties over time and leave the details to the professionals.Are there other strategies I should consider? 

Those absolutely exist, don't get me wrong, but unless you know what the regulations are (at least in principal) you can't double check their work on your behalf. 

If the bank will not require a haircut on their existing debt, I don't know the mechanics of the process all that well but it could ease the burden if the sale will allow the seller to pay off the loan in full.Regarding the potential basement units, I know that elevations vary in that neck of the woods.

A quit claim deed is very risky in this case, since you don't know if other liens or judgments exist.