I went with the 15yr loan putting down 30% to save on interest and get the loan paid off ASAP, since this is a Buy & Hold play. 

The bank eventually sent out their Broker to do his Price Opinion on the house but we found that the house had been broken into, locks changed and a dog was occupying the house which had no power or running water.

I don't want to try biting off too much at once, but I also wouldn't mind making this a full-time opportunity for myself if it plays out correctly.  

I listened to an audible for Rich Dad, Poor Dad just last year and played the Cashflow game on the iPad.

Obvously other factors play in and the property is a big variable.  

@Lee SmithThanks Lee for the play by play, I liked your conversation, and will definitely take note of that...  

I'm about 20 podcasts in, and number of people I've heard interviewed have recommended just getting the license regardless of what role you want to play in real estate, partly because it gives you access to the MLS.

Keep in mind this is mostly an appreciation play, with a little bit of cash flow each month.2) If this is solid, why aren't several people jumping all over it?

If the home is being appraised as LTV should be post construction, if you are looking for a renovation loanI know this is probably not the exact answer you were seeking, but I think it should help broaden your play and help drill down the lender through a simple process of elimination, based on very specific qualifiers you define as it pertains to your specific strategy.

Just understand the issues at play here and think for yourself.