RE is not a magical business that prints money no matter what.

As best I can I point out either evidence of issues if we can see them when we show homes, so you don't waste inspection and option money on homes you end up not really wanting to buy.   

Yes it costs money, but yes it's worth it (assuming they're a great lawyer). 

Anything that seems amiss like someone who needs to close from out of the country, anyone needing to close quickly or insisting on a cash purchase, pricing that is out of whack with fair market value for a property, anything off market, anyone sending the wrong amount of money (one fraud is to send more money than they should, then ask for the difference back, the money going to them is good but the money they sent is not), any buyer that makes an offer sight-unseen, or seller who can't meet at the property or doesn't want a sign at the property, anything that seems "off". 5.

Whatever time you spend learning the pros and cons, and getting professional advice before you make your offer to buy them will be money and time well spent.Good luck on your journey!

Which would leave me money to spare for other renovations.

Probably made more money on the sale of the land and the house than they ever did farming, sad as that is. 

I'll do it in about 6 months once I have a foothold in NC.Yeah, I learned the hardway by spending money unnecessarily on this kind of stuff lol 

HARD MONEY LENDER FINANCING AS AN MLO How did you add value to the deal?

I also have a primary residence with nearly a JUMBO loan at a high interest rate and I own a vacation place in cash (small trailer not worth much money but i also own the land) in a different state that I pay RE taxes on.