Most do the "We Buy Houses" approach which solutions like Carrot works perfectly.   

Here's the perfect starting point to solidify your foundation:1.

If you have a good property manager they can deal with it but also means more turnover, more renovations but if you have the reserves and know what you are getting yourself into, then it's perfectly fine. 

I think the location would be perfect for a military recruiter or a satellite office due to the small space.

Used both, each are good, neither is perfect.

I'm sure there will be one person with a perfect scenario including an unreasonably low LTV that will disagree, but I don't believe your asking for what is the lowest they can go in a perfect situation, but rather what is a realistic rate you can expect in the future and 7% is a realistic low end. 

Make sure you have the following:Great investor-friendly agentsMultiple contractors to run bids throughIf this is your first deal, don't expect it to be a "perfect brrrr"

The other option is a water tank.   

Forgive me if this is a novice question...The home is approximately 100 years old, and had radiators throughout the entire property, as well as 2 boilers and a large oil tank in the basement. 

It is also very hard to "perfect BRRRR" here.