My advice is to treat your balance sheet with respect and keep your short term debt items like LOCs at a minimum if you can.

There are far more important items you should be prioritizing but first so I am clear on the strategy, it sounds like the business plan is to go under contract, renovate the building and then purchase the building once renovated and stabilized?

From my observations most of these “Gurus” only have portfolios of C/D located single family homes to show for their years of work and for the life of me I don’t understand why they capture an audience.  

Unless you are doing all of the maintenance yourself, figure about 5k yearly for touching up paint, repairing misc. items the guests break, bikes, kayaks, BBQ grill, pool maintenance, lawn service, pest control, replace TV remotes every time someone checks out. 

Not saying it isn't possible, but I would plan on capturing appreciation for the first couple of years and cash flow will come.

I think your criteria are a bit on the harsh side unless the property is on the low rent side and you have a few items on your list that might skirt the law.

We helped friends/clients purchase a business that changed their lives and we started doing a podcast talking about aspects of business that are missed, mostly the small items so new entrepreneurs get exposed to those parts, but we have been so busy with our own businesses that we had to put it on the back burner for now, after about 8 months. 

Then to add insult to injury, you get hit with multiple large CAPEX items at the same time.  

@Stefan Fabry episode 886 addressed this exact item.

I'm just thinking ahead, say that the 29th or so rolls around and they tell me they're moved out and there's some items left behind.