This is my first time as a home owner...AKA Please be kind!

It will take a long time to recoup the cost on a property this size. 

I'm guessing there are subtleties that I'm hoping someone more experienced can share with me.For example, I got a part-time RE agent (which I've since learned might not be the best idea) from Zillow for a listing I'm about to make an offer on.

I can quantify, but our expectation is that they are active house flippers who do this full-time and professionally, with at least a handful of deals under their belt over the past few years.For us, the initial discussion is on their background.

If most houses sell for $1m, and the high end for certain properties is $2.5m....I don't think I'd waste my time with a seller who wants half a million dollars more than the highest properties in the area.

At the time I did it, there was potential incentives of up to $750/unit for the 2 year and $1000/unit for the 20 year. 

It sounds like an ideal moment to either plow some more money into savings or seek private funding.Perhaps if you find a modest flip you can infuse cash into your system in a hurry and build your network at the same time?

I am dealing with this situation with a client of mine where proving those payments is hanging up the refinance, so as long as it is clearly documented with the exact lease amount being paid over that time in the account, then most groups should be fine. 

Sharing a kitchen probably isn't a big deal for a short term contractor.

Get your permitting department on board first as well in your county.Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?