However, there's one case that says you're allowed to enter the property, change the locks, and renovate it if the property is vacant and uninhabitable to begin with. 

So we are having to get creative with fb marketplace and stuff.Even stuff as simple as changing out locks to smart locks can be annoying and difficult if you're as non-technical and non-handy as I am!

But Hostaway now has their own easy to use smart lock feature.

"If someone were to rent out part of an existing dwelling unit in a way where members have limited rights to use the common spaces and don’t have access to the other rooms—for example using external locks to separate the home into different areas—that would constitute an illegal conversion,...You will also need to update your insurance policy.

Your real estate professional will generally be the best source for a reliable closing and I think BP would probably be my next source for a quality lender. 

ask, I assume cheap its a war zone)  reno, and lock box ?

The in-place plumbing will overkill, so if over time you lock and shut down a couple bathrooms (so you have less to maintain), whatever. 

Most people don't recommend getting started with a flip especially if you don't have reliable people in your network like contractors and an agent. 

We are looking at 40% down borrowing non-recourse with only a 20 year lock.

Insurance premiums, property taxes etc increase CAN impact cashflow, but in typically small ways and ARE PREDICTABLE because these costs are typically locked in for a year at a time!