@Zak Parks, 2% in this market calls for refis and buy buy buy and selling when they are below 1% (the residential equivalent of buying high cap rate and selling low). 

No idea if it'd work (and you'd hit higher rates) and you run the risk of the appraiser not agreeing with your amount (if too low defeats the whole purpose).

In the back of my head I feel like there's a loophole I'm missing and he's going to walk with my money.Should I be paying the premium of having an attorney draft all documents and handle the transaction when the purchase price is so low in the first place?

If you're unfamiliar with what that is, it is when you purchase a 2-4 unit property with low percentage down, owner-occupied loan.

Hello.I have very little capital liquid capital (3K) available, and have just purchased a home with a low down payment.I see a slam dunk investment opportunity in some houses.  

Unfortunately the town is primarily low income and lacking a loT Of nearby services and labor, for example, I’m having trouble finding a nearby demolition company to demolish a small mfh and qualified labor to complete the fix ups.Have you been in this conondrum?

We would have had no issue getting conventional financing, but in this case it made no sense since we could get the money at such a low rate for an extended term.

TAX values are all over the place...sometimes too high, sometimes too low, but the best way for analysis is to use either list price or what you expect to pay and multiply by the tax rate. 

In 02/2016 I refinanced the loan to 15 years at 3.12500% rate and switched it to a conventional loan; avoid paying PMI and take advantage of the low interest rate for 15years amortization.

Hire licensed contractors , throw out the low bid .