-Why a hard money loan as opposed to a bank loan? 

I wouldn't be opposed to having a little skin in the game (closing costs, inspections, etc) I would be living there paying market rent and doing the improvements myself.

At this stage, the main thing we need is for me to get back into the workforce and get some money coming in, in order to achieve that dream.With that in mind, my immediate goal is to gain employment in the field of property management, as opposed to wasting my time working in another field that is not associated with real estate.

BPOs are typically exterior only and agents usually earn $30 - 50 to complete them, so use them as a reference but not the deciding factor.                                                                                                                                                                     

Yes you do have to pay PMI when you do this but once you hit 20% equity you can get it removed if you buy with a Conventional loan as opposed to an FHA loan.

New Roof, New Windows, Paint interior/Exterior, New Appliances, New Garage Door, New Fascia, New Fixtures (Bathroom and Ceiling fans), Electric Service Upgrade, 1204 Sqft, built 1960.

How is the condition of the roof, mechanicals, walls, foundation and exterior?

If I were to do seller financing as opposed to FHA would it have a different impact? 

We have a couple of exterior photos.Every STR we have stayed at without exterior photos was dumpy.

You have more control of your time when working with sellers as opposed to buyers.