One version is 2 pages long and easy to understand, the other is 6 pages long and has a lot more confusing verbiage but seems like it could protect me more?  

It is not to find an independent value for the property.It exists to protect the lenders investment in the property.

Other than working with my attourney to ensure that I am protected, please offer some general advice and information.

There are benefit to finance under commercial loan which you mention  under llc  for asset protection. but negative impact will be higher rate.

I know it's my newbie, hungry to make my first deal and get the ball rolling voice telling me to jump on this but I also don't have a cushion to protect myself or family if things go wrong. 

- Up-front cost difference- Energy (heating) costs- Comfort- Resale value impact- Anything else that's relevantWhen I say crawl space, I mean a non-ventilated, moisture-protected (vapor barrier, waterproof spray, and sand/gravel), heated space, NOT the dirt-covered, ventilated space of old.Thanks!

I think these laws are a good thing for the buyer's protection.

No a fence is not required on a lake front, the risk of drowning is s given and not something a landlord is required to protect tenants from.

Just be careful that you don't deny based on any protected classes.

Purchase the note, set up w a servicer, make sure your asset is insured/protected and then let the note 'season' w the servicer for 90+ days to document a history that monthly statements and CFPB compliant late notices were sent and any correspondence is documented.