My suggestions would be in this order:(a) Determine the type of financing you qualify for - this will short cut the process considerably and save time on investment angles and next steps.

And you can do it with little cash, 5% down conventional is better than 3.5% FHA.House hacking also gives you a chance to cut your teeth in all major skills: analyzing deals, buying process, financing, working with contractors, advertising for rent, background checks, property management.

It would be nice if you had a contact who was an actual mason not a marketer.  1930's construction is rare so maybe they cut some corners it was a global depression.  

Cut your losses the first time they miss a payment and start the eviction process.

IF, they are supposed to cut the power when there’s a fire then they have to buy a bunch of Tesla’s mega pack batteries to power the water pumps.

I would assume a greater emphasis on quality of materials and workmanship (and consequently higher rehab cost) for a rental where the investor will have to deal with the longer term implications of any corners that were cut.

There is always SOME manual work, but you can cut out a lot of the back and forth-- definitley.

My guess is also a leverage cut due to ARV, but you never know. 

That cut down on complaints about not having enough toiletries for people with longer stays. 

Cut corners everywhere... are unresponsive.