This is just NOT something I want to pass up but I do know it will be highly unlikely for me to get a bank loan in time for the bidding process.

It is to expensive for investors and likely to crash at some point in time.

You have responsibilities, carry them out with a professional approach.If, with new tenants upstairs the old woman again causes problems, which she likely will, at that point in time you do not renew her lease and find a replacement for her.

You need to be cautious in times of transition, especially with tenants of limited means, as they usually have few housing options. 

Investing while still renting or purchasing a multi unit and living in one unit is more advantageous until the point in time where your investment income is such that you can throw it into a personal home as a luxury purchase.

A is the buyers amortization, and B is the debtors.Having these clearly spelled out will show at any point in time who is owed what money, in the event of a property sale or early payoff (which do happen).Here is a great resource explaining partials.

For such a great loan product I'm disappointed and discouraged to find out midway not finding a good GC in time may jeopardize my closing on my home.  

My neighbor sold his run down house off market to a flipping company (really kicking myself for not realizing in time to buy it) for $175k.

I would inform the owner on how many hours you and your friend have invested in time filling the hole, and see if he will knock off what it would have cost him to pay his guys to fill the hole.

I am looking to buy four or five single family homes that need less than 10k each in rehab.I need a realtor that is intimately familiar with sections of Milwaukee that have good price to rent ratios.