My mistake for not inspecting the property beforehand. Paid 12800.based on google mapsThe property is a mess. Need to clean the junk out of house .. hoarder . Bathroom and kitchen need redone. Large tree in back is de...

Are there any options for lower down payment loans in general or even for college students?

One of my connections will fund the rehab for less and give it all to us on the upfront to finish the project at a lower cost.

Once it's rented, use that rental income to help offset your DTI, which may help you qualify for the second property sooner.Partner with Investors: Team up with someone to split costs and lower your personal DTI impact.

That immediate tax savings in the new property is better than the infinite tax deferral of the 1031 exchange.

Be mindful of short-term capital gains tax, as profits from flips held for less than a year are taxed as ordinary income, and frequent flipping may result in self-employment taxes.While profits from flips do not qualify for 1031 exchanges (since flips are considered inventory, not investment properties), you can minimize your tax burden by deducting allowable expenses like renovation costs, loan interest, and holding expenses.If you're considering diversifying into rentals, explore opportunities to benefit from long-term tax advantages such as depreciation and lower long-term capital gains rates.

We are in a very low tax bracket this year but should be 10% higher in 2025.

This implies if you sold and bought the exact same house your current property tax would increase substantially.  

that is a much lower risk way of getting started than with a sub to deal

Some assets can be valued significantly lower than their actual worth because of illiquidity and other factors.