The funny thing is, as the Fed has reduced their purchases, mortgage prices have actually gone up relative to other rate instruments. 

Spreading the kitchens and bath expenses over greater sq/ft helps reduce per sf cost.  

@Jody Young At this point, the officer doesn't believe you are involved in the theft (unless there have been follow up questioning) ... in contrast to what everyone else is saying, I think you did everything correctly by allowing the officer to look around (assuming you didn't have any other evidence of criminal activity that he may stumble upon) it reduced suspicion ... and he never truly intended to hook you up to a polygraph....

Buying another home will reduce my options in RE investing.Thats where the thinking of investing 350K to generate 5-6000K per month came.  

Localities participating in the flood insurance program undertake mitigation efforts in order to reduce flood risk, and there is a good bit of conflict between local governments and FEMA over just how effective that mitigation has been.

Gross Income you can either reduce your tax bill by the "loss" or if you make too much $ (i think the limit is AGI of $150K/yr) you write down the rent income to $0 and have a loss carry forward.  

After receiving a few quotes we went back to the seller and had the price reduced.

You might want to check with the water company to see how high the water pressure is in that area. 60 and 70 psi are not unheard of; if there is a pressure reducer (usually near the water meter or main shut off valve), then 40 to 45 psi is probably the proper range.

Reduce any likelihood of surprises. 

The first thing that popped into my mind was to find a wholesaler that you've worked with before (to reduce the possibility or treachery) and have him approach the seller ... and then do two closings.