It would be a much better rate, it would be a fixed rate (not variable), and it would amortize over 30 years (no balloon payment).

Fixing a class B doesn't produce amenities that Class A offers, otherwise you're losing sq ft if you add a gym/shower, etc.Anyway, happy to get updates, but I think your leasing will be at 0 for 12 months.

My firm has a fix to rent product that discounts the interest on the fix portion, and discounts origination on the DSCR portion. 

The primary reason is that my parents' risk tolerance is much lower than my own (they are retired and are on fixed income).

"Is it a common practice to report it as a loss even though I fixed it out of my own pocket?" 

Quote from @Bryan Maddex: When you have access to enough DSCR lenders you realize that there are DSCR loans for every occasion!

I learned how to fix mine after searching for a solution, getting two different attorneys, but none could help so I figured it out. 

I read Chad Carson's Small and Mighty Real Estate Investing and I think my path is most aligned with what he calls the "live and fix" method.

Being able to pick their brains is always helpful, both their successes, red flags, war stories, etc.And as Jonathan mentioned, the very first step of actually taking action is knowing how much money you have to allocate to buying a property, fixing up a property (if needed) and how much a bank will lend to you.  

Due to personal faith based reason, I prefer to only invest in all cash deals that don't involve traditional financing (so typical passive RE options like syndications, RE funds with fixed returns, REITs etc are not a viable option for me).