I feel it's a standard set by investors to owning many property or maybe it's a badge of success when you have many property, but to me what really matters is if their paid off or not.

If the city could prove that the home was either not lived in for a year or that it was used for any commercial use then they would deny the certification and traditional residential financing would be a lot harder to get.Something else to keep in mind is that if I did change the use of the land I would need to bring the standards of the lot up to today's standards.

Industry standard is for liability limits to be $1,000,000 per occurrence and $2,000,000 per policy year.

Thanks - @Michele Fischer  - I doubt it's the application - I'm using the 'standard' from WI Legal Blank;  though it could be that my criteria are too strict. 

I don't know if this is their situation but  Im assuming it will be the standard and not financed in a less conventional way.PITI - 700.  

My mid-term goal (3-6 months from now) is to form or join a partnership with equity partners who aren't interested or able to be involved in the day-to-day and I can provide sweat equity in the form of making sure the process happens on time/budget/standard.

Good morning,I'm about to get my first property under contract using  a North Carolina Standard 2-T form.  

Use the standard TREC contract and forms not some contract you found online.   

COCR was about 11%, which is pretty low by my standards. 

Normally, standard C.A.R lease contract should stated most of the things you mentioned.2.