If the property is uninhabitable you won't be able to get conventional financing (through a bank) on it.

I do not have a traditional W2 job so I can't pursue the typical conventional loan or a FHA since I don't have income (hence the DSCR route).However, I've seen that most DSCR lenders do not lend if the loan amount is less than $100K.

Fifteen percent IRR is possible, and single digit cash on cash is achievable. 

I'd like to ask if we're all assuming a conventional of FHA loan?

Most if not all of these properties require SIGNIFICANT cap ex rehabs and conventional financing won't touch them; you'd likely need to go the hard money route at 10-12%, 2 points, 12-18mon turn around.

I’d like to put as much down as possible with  conventional loan.

That is important when considering a conventional conforming loan.

I am looking into my first property and have been pre-approved for a renovation loan from a conventional lender.

@Summer Shelton, FHA allows you to use rental income and so does Fannie Mae/Conventional loans.

Once the rehab was done I refinanced out of the private loan into a conventional loan as a primary residence.