For example, if the vendor was willing to carry back $115,000 in the form of a 2nd mortgage.

Buy gold!

I'm planning to use Brizo luxe gold fixtures in bathrooms. 

Granted I have never had the 72 item list asking me to raise headroom, but I usually carry a couple thousand dollars in a line item for inspection issues.

Why not buy it with private money, borrow enough for the purchase/repairs/carrying costs, and then refinance once the repairs are done?

Low income subsidized rentals may return a high gross cash flow, but their total investment value in a growing portfolio is more glitter than gold.

The breed insurance exclusion will give you a reasonable justification, but it could still get messy if they pursue legal action.Id dig into the true status of it being an ESA and if that pans out as "real" then its reasonable to require the tenant to carry liability insurance for the pet

This approach can be more passive and carries considerably less risk than undertaking new developments or flipping properties.

I've bought most of my rentals utilizing vendor carry back financing (for a zero down option)Utilize Your Network: Use your connections for off-market deals and creative financing.

Carry out extensive market research to identify neighborhoods and property types that suit your financial goals.