A simple mistake can cost you more money or time.Here's a pretty good guide: https://www.clarkcountyohio.gov/DocumentCenter/View/5210/CCO...

For me I’ve found the lower cost to entry to be more desirable in the residential market.

The appraisal took 2-3 weeks to perform and the cost was just under $5k.

As the seller I would pay for the energy audit, do the analysis on the work to be done (cost vs savings) and then market the home with a prepackaged improvement contract that would meet lender guidelines (solar, EE windows, etc). 45 day close to allow for enough time to do loan and obtain permits, occupancy COE+2. 

Does it usually cost money to have a contractor come out and do this?

A little background - I'm a nurse and have been hoping to find a market that pays decent when compared to the cost of living and also has high prospects for growth.

You can also consider selling and reinvesting your winnings then you never have to worry about the cost basis of your investment.

The rate you are offering sounds low in my opinion. 

Appreciation tactic is a tough one to start with as markets can stagnate, and you end up with a property that ends up costing you maintenance, but only covers the mortgage or is negative. 

I have the capital for a down payment and holding costs for a year but am struggling to find a lender who does not require a first-position lien on the home (the seller does not wish to subordinate his lien position).It has occurred to me to seek a partner-investor who would profit share with me if I was responsible for renovations, as I’m an experienced and licensed Residential Contractor.