So septic costs are primarily based on how many bedrooms the house has as they typically require 100' of drain field for each one.

It is important to consult with a legal professional or financial advisor to fully understand the implications of assuming the mortgage and how it may potentially affect your financial and legal responsibilities in the event of unforeseen circumstances such as her mother requiring care.

Some people don't want any while others want the most.I have heard of some hosts requiring the cleaning, just to keep an eye on the property.

For a lot of owner-occupy loans, there is a 12 month occupancy requirement.

He said that he was quoted $10,000 for a Lennox unit with all new install, or $7000 for a York system with the same equipment that is there (which the sales guy said was fine and didn’t require a full renovation).

The process of getting loan approved was one of the most detailed (from documentation required) I’ve experienced thus far.

I recently bought a property that was in a 'flood zone' and required Flood Insurance because of a loan.It made me think twice for a day or so, but after research (driving around/looking at aerial maps/talking to neighbors, I came to realize that there was almost zero 'real' risk.As you so astutely pointed out....this creates opportunity for investors that can do the research and can stomach a little perceived risk....

Often, permits are required and those may pin point who was responsible.  

Hi Brandon, If you're willing to liquidate the stock investments to use for a down payment, you could get around the income requirement by using a DSCR loan.

Also, you should be focused on constuction lenders who offer best leverage (usually those who will capitalize interest reserve &  finance a portion of the soft costs), lower floors on the rate since most banks tie their construction debt pricing to the fed rate, perhaps offer lower or no pre-payment penalty if the property reaches the permanent financing phase of the loan product before you are able to refinance and low or no required depository relationship outside of the actual operating ccount.