The cabinet under the sink had water damage to the base, and I have the option of just repairing that and painting the inside of it.

The more you can put down typically the better. you also though want to make sure you have enough money in reserves for rainy day - such as a hot water heater breaks or something.

Quote from @Bryan Waters: I love the ADU play. 

As someone who lived in Satellite (behind the CVS beachside), I will say the upkeep with the salt water was tough, but the area was phenomenal. 

You are not required to pay upfront costs (and shouldn't, in my opinion.)I require written verification from utility companies (water, gas, electric) that utilities have been assigned to Tenant effective the first day of occupancy; no confirmation = no keys and lease approval withdrawn).

We made several improvements to the property when we got it - a totally new gas line, a totally new water line including all the lines from the street and pex plumbing installed.

Expenses: Mortgage: $3655.55,Property management: $470, Water: roughly 100/month.

It comes with the territory like a water leak, roof damage, etc..My $0.02 ...

At the time it seemed that most of the people buying these types of homes were about 50% of people who were a hot water tank away from giving them back to the back.  

Is there any creative lending to take advantage of without getting completely hosed?