Considering she is a new tenant and at this time should of had the money prepared to pay October rent regardless of the situation my guess is she is simply using you as a temporary cushion rather than  understanding where her priorities really are.

Work out which one you're prepared to live in for at least a year, and apply for an FHA-approved loan for THAT one, and conventionally borrow for the other one.

However, if you do have that amount of maintenance/repairs required then you are prepared to accommodate them with little effect on your Cash Flow projection.

@Ely SantiagoI'm not 100 percent sure what you mean here, but if the private lender wants a first-lien mortgage, the private lender should hire an attorney to prepare, execute, and record the mortgage.

After the rehab the place was looking pretty nice so I decided to ask for $1200 in rent and prepare myself to lower it if I didn't get any interest.

If they spray under the house be prepared to have a hard time with your tenants. 

We've had the shop prepare a stain match to the cabinets.

I am a tax professional and prepare my own return.  

I do not have two many assets, but would like to prepare for the future.

You could download the NY instructions for preparing your state tax return which most likely answers these questions.The real estate agent fee is whatever you agree to in your listing agreement.