If your credit score is good enough you may be able to get into the investment property with 20% down and save a bit there as well.

If not, is the umbrella insurance good enough?

sure but no one is going to not rent that place for picture not being amazing they are good enough in my opinion. i would lean more towards the price being to high. i dont know the area but the kitchen could use a little face lift but if that area doesnt demand a nicer kitchen then i wouldnt  worry about it. drop the price dont pay anyone for picture and bet it will rent.

The deal was good enough that my dad came in as a 50% partner to fund it and covered the closing costs since I brought him the deal. 

@JoeI don't have good enough credit to get a traditional mortgage, so I suggested this option to my potential seller as an alternative.

Cell phone pictures are not good enough. 

@Jessica Lombardo the lenders I tried told me that my credit wasn’t good enough just yet and hard money lenders told me I didn’t have enough down payment for them

If you find a good enough deal, you can BRRRR out of it and move on to the next one at a distance wherever you end up. 

Many times the furniture will be good enough to get you started, but you may want to replace/update old furnishings to stay competitive. 

I understand there is forced appreciation as the my mortgage is being paid down, but is that good enough?