They want you to have done skin in the game especially if you are new.

Purchasing tools, such as an email domain, proves you have skin in the game.

On the surface of it, there looks to be too many things that could go wrong.

There are a few properties that are for sale in my area, but one in particular, from the surface, seems to be potentially a good deal for either a fix and flip or buy and hold.

My skin is crawling.

Being a landlord mean being thick skinned, being able to be objective, and to some degree having to be 'the bad guy" sometimes - not everyone is comfortable taking on these roles - best of luck to you - I'm looking forward to seeing how all of this turns out. 

There are more than a few ways to skin a cat, but to some extent the market will tell you what the optimal strategy is, if you just know how to listen.

I say ok, I think I can come up with say 10K to get "skin in the game" which should cover the 4 points easily on the type of deal I am looking at.

There's a few other considerations regarding how the baseboard, door jambs and cabinets relate to the existing floor but if the surface of the concrete is not acceptable, you might want to consider tile.  

@Curtis Kirksey,  on the surface of it, the main reason your numbers look do-able is because of your large cash outlay: $34,172.00!