And so I had it done last month (my electrician wanted me to be in town while the work was done - which was a good idea due to potential ceiling troubleshooting implications) - it went as well as it could have gone as there was enough space in the ceiling to run the duct-work/piping (whatever the proper term is) out to the north side of the property without major headaches. 

Potential Sale price per our realtor: $469k-$489k.

There's too much risk to ignore potential red flags.

@Kristoffer Tier looking into this method to potentially buy my family and I our first home.

The potential seller is someone I know and doesn't do much with the property.

This is not located in the immediate appreciation area but it has the potential to appreciate in the longer run. 

TBH i think your best bet would be to have that 10% - 15% 'jr. debt' be from cash-out on another property, if it's an option.

Vancouver WA is probably going to be the best bet for where I am looking for properties in. 

For a reputable builder, ask for recommendations from friends, check online reviews, and visit recently built properties in your area for ideas and potential contacts.

But maybe for the 1st rental that might be the wisest option.As a realtor, do you see any good potential starter options?