Here are some recommendations based on the limited information you posted:Yes, I would get the chimney flue installed.

I'll be moving to McGuire AFB in New Jersey and am looking for my first property within an hour of the base.

Do NOT buy this based on your numbers. 

Knowing your exit strategy is essential, regardless of whether your goal is to keep onto the property for the long term, sell it for a profit, or switch to another investing approach.Your choice will ultimately be based on your tastes, risk tolerance, and investing goals.

I am based in Las Vegas ,NV  -- was thinking about acquiring some rental properties in mid-west, possibly TX, AR, TN as well....what your take on it?

Pay the bill yourself, then reimburse yourself by charging the tenants based on a formula.

My guess is, based on the discretion you offered, you're probably looking at a commercial loan product.

There relationships are based upon an unequal teacher/pupil dynamic that is not helpful to either party. 

I'm happy to give my opinion/response which is business based and not grounded in real estate law.

While friends' opinions can offer insights, trust your own judgment based on personal familiarity and research.