I am 20 years old and in a healthy position, no bills and nice savings to start with.

Also, this loan has limitations, which are that the property must be located in specific "healthy neighborhood- target blocks" .

If no significant damage and you have a healthy deposit more that one months rent like I get then I would just move, get rid of the rat problem and get the place rerented.

Thanks in advance for any advice you can provide and I hope you all have a happy, healthy and prosperous new year!

Thanks and I wish all a healthy, happy, and prosperous 2019.

They all wanted to see at least 3 years of consistent work experience, which I definitely had, a healthy debt to income ratio, and of course a good credit score.

Problems I never expected outlined below.With that said, I always keep a healthy cushion available. on it. 

you need to walk into the city planning, smile and play dumb... give them a sob story about your sick Mother in law, and wanting this property, but you just dont know how they handle things. 

If you aren't including healthy and steady appreciation as part of your acquisition criteria, unless you have deep pockets and high W2 income, you'll be shut down by most lenders after a couple properties. 

A healthy market means there will likely be options for that property if it ever goes off the rails.