Most my clients do conventional and some creative options for a bit extra financing if needed, saves a lot on fees/financing costs this way.  

There were a lot of costs that we didn't expect like the plumbing had to be completely redone.

Mind you, she used a legal aid attorney, so he didn’t cost her anything.

Hard money lenders have a good amount of flex when it comes to FICO score and typically the main issue that borrowers with low FICO's have is that their max loan size gets cut which doesn't seem to be an issue here.

And if you do, you are going to possibly sacrifice the value of the tenant that you get for the price that you're getting upfront, and if you're going to lose your tenant that you currently have then you risk the vacancy, having to do a rent turn, and that would come with more maintenance, and many additional costs that you would have To encumber that would most likely far exceed that $160 extra that you were trying to raise in the first place. vacancy means no money coming in, and then your investment is dead in the water.

Here is an example of what it costs you to avoid professional advice.

Some banks and lenders will cut you off at 6-7 even if your DTI is below the normal percentage.

Agents are also advising you to look for expensive mistakes (like checking the sewer which could cost 5-40k) and using their network and contacts to find homes off market or FSBO.  

I'm looking at monthly cost to seller vs. anticipated rental income, purchase price relevant to the ARV of the area and interest rate, balloon, etc.

Although the list may seem intensive, I look at it like this: The total cost of all these items can be much lower than the cost to repair a hidden surprise after purchasing a property to flip.