Nationwide the standard is $.14 per square foot - that's FHA and VA's marker at least.

I think they can get a standard lease at Treu office supply on Baldwin St (near the County Courthouse).They will want to register the property as a rental if it is in the City of Elmira.  

,I actually have no desire at all to be a standard realtor, the only reason I would get the RE license would be to help on the investment side of things.

There is something missing such as the definition of "amazing" is being measured with non-standard criteria.Warning Will Robinson, does not compute, does not compute!

Either way, I am planning to get a home warranty that should be able to help cover the capex risk, as this is an old property by any standards.   

So we usually recommend that you simply make the contract assignable and use the standard notifications at the closing table.  

I broker my HELOCs to TCF bank specifically because they will accept Fannie and Freddie's standard methods of calculating DTI (which your local credit union obviously is not) instead of re-inventing the wheel, with the only deviation being that they will calculate their own debt obligation more conservatively (which makes sense given that it's an interest only product in 2nd lien position). 

Still learning here . . .Just curious what's the purpose of putting the property under land trust versus just standard individual/personal name.

Not using a central system can cause mildew problems on top of everything else.If you really don't know what's standard in the area you're building in though, stop to regroup -- you shouldn't decide anything without figuring that out. 

You may want to acquire property through standard practice which will likely require you to have a job that qualifies you for a mortgage.