If there's obvious insulation break-down and bare wires exposed to rafters, joists or wall studs, same.Since you are planning to keep it, and you make your money back on your insurance, it's probably not a bad idea although I would shop around on some pricing.

Feel free to reach out, I'd be happy to get together sometime to meet and talk shop.

We shopped around and went with a bank that had no minimum stay. 

It's a very  financially smart move to invest your funds in real estate and it will pay off long term. 

Okay will contact your friend to shop for rates, looking to get pre-approved so we can have quick-turnaround when there's a deal.

Find a smart good local agent and then make a  long-term partnership is critical. 

Tying up your capital for 10 years just to get the same rate of return that you could get in an index fund does not seem like a smart decision, given the increased risk of a project like this as a new investor. 

I suppose to answer the actual question you asked:Sure it's appropriate and smart especially if you are starting out. if you get a bite, just send your agent over and have them let the seller know they are working on behalf of you and you have their fee handled so it isn't part of the transaction. 

Well the Dallas terminal will be in the Cedars area and there is lots of big-smart money that has invested in the area. 

But as we often say, please don't let the tax tail wag the smart investment dog.