This could help in the process of having extra cash to furnish the house and for cosmetic repairs. 

You'll probably have a processing fee along with the points, plus normal closing costs.

We're in the process of purchasing this fully vacant property and need contractors ASAP. 

Any tips on the process of partnering with a private money lender, terms, etc?

Although discretionary, some people do this through the variance process.

The apartment looked fine with the exception of some clutter which she was already in the process of decluttering by throwing out.  

My normal process, is that they indicate that they are interested, I show them the property, they fill out and application, then we execute an agreement for lease.  

Knowing what we knew and some shared knowledge from our family in the many processes of owning, buying, flipping we wanted to take our profits from the first house and turn that into additional income.

I know it would probably be stressful having a newborn, but let her know that you only need to stay in the property for a year, then you could move out and repeat the process.

As for gentrification that is a natural process that is a benefit not a negative.If you want to create affordable housing join or contribute to a charity organization don't start a business.