I would recommend looking through in DSCR loans. 

You'll have all amortization options, but the most common will be 30 year fixed and that's generally the recommended one. 

I could recommend a couple of people to do consulting. 

@Henry Clark- Yes, your ideas are pretty much exactly what the engineer recommended after he inspected the property.  

The challenges are Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I do, however, recommend getting a hotel.  

I usually recommend house hacking a 4 plex.

I was recommended to check out Maverick Investor Group and it certainly seems appealing that they find the deals for you as well as offer many guarantees on the rehabs and such.

My first MF I represented the buyer on I made 100k. for maybe a weeks worth of work. 3. if your going to be looking a more resi style duplex 4 plex a lot of those get listed and having access to the MLS is far superior to any other on line listing service ONE simply because you will be able to talk to the actual LIsting agent not someone paying for leads.And then of course having access to MLS lock box's and not relying on agents.. this is huge.Now if your maybe going to buy one property sometime in the future and you have no interest in learning the RE laws of your state or making any money with transactional real estate then sure.. its a pass.. although I would still recommend the pre license course so you learn the basics  the vocabulary and states unique laws.. knowledge is power in RE.

@Will ReedGet a second opinion from another company (one that just does cleaning and scoping not repairs as the companies that also do repairs tend to recommend repairs).