If you were able to find a contractor who does rehab/alterations/renovation, a property management company, an engineering company that does home inspection, a property maintenance company and there is a place in their organization where you would fit, what you could learn would be beneficial to you as a future real estate investor.

I don't see companies greatly alter their hiring plans. 

State Security Instrument Foreclosure TypeInitial StepNumber of MonthsRedemptionDeficiencyAlabamaMortgageNon-JudicialPublication112 monthsAllowedAlaskaTrust DeedNon-JudicialNotice of Default3NoneAllowedArizonaTrust DeedNon-JudicialNotice of Sale3NoneAllowedArkansasMortgageJudicialComplaint4NoneAllowedCaliforniaTrust DeedNon-JudicialNotice of Default4NoneProhibitedColoradoTrust DeedNon-JudicialNotice of Default275 DaysAllowedConnecticutMortgageStrictComplaint5NoneAllowedDelawareMortgageJudicialComplaint3NoneAllowedDistrict of ColumbiaTrust DeedNon-JudicialNotice of Default2NoneAllowedFloridaMortgageJudicialComplaint5NoneAllowedGeorgiaSecurity DeedNon-JudicialPublication2NoneAllowedHawaiiMortgageNon-JudicialPublication3NoneAllowedIdahoTrust DeedNon-JudicialNotice of Default5NoneAllowedIllinoisMortgageJudicialComplaint7NoneAllowedIndianaMortgageJudicialComplaint53 monthsAllowedIowaMortgageJudicialPetition56 monthsAllowedKansasMortgageJudicialComplaint46-12 monthsAllowedKentuckyMortgageJudicialComplaint6NoneAllowedLouisianaMortgageExec.ProcessPetition2NoneAllowedMaineMortgageJudicialComplaint6NoneAllowedMarylandTrust DeedNon-JudicialNotice2NoneAllowedMassachusettsMortgageJudicialComplaint3NoneAllowedMichiganMortgageNon-JudicialPublication26 monthsAllowedMinnesotaMortgageNon-JudicialPublication26 monthsProhibitedMississippiTrust DeedNon-JudicialPublication2NoneProhibitedMissouriTrust DeedNon-JudicialPublication2NoneAllowedMontanaTrust DeedNon-JudicialNotice5NoneProhibitedNebraskaMortgageJudicialPetition5NoneAllowedNevadaTrust DeedNon-JudicialNotice of Default4NoneAllowedNew HampshireMortgageNon-JudicialNotice of Sale2NoneAllowedNew JerseyMortgageJudicialComplaint310 DaysAllowedNew MexicoMortgageJudicialComplaint4NoneAllowedNew YorkMortgageJudicialComplaint4NoneAllowedNorth CarolinaTrust DeedNon-JudicialNotice Hearing2NoneAllowedNorth DakotaMortgageJudicialComplaint360 daysProhibitedOhioMortgageJudicialComplaint5NoneAllowedOklahomaMortgageJudicialComplaint4NoneAllowedOregonTrust DeedNon-JudicialNotice of Default5NoneAllowedPennsylvaniaMortgageJudicialComplaint3NoneAllowedRhode IslandMortgageNon-JudicialPublication2NoneAllowedSouth CarolinaMortgageJudicialComplaint6NoneAllowedSouth DakotaMortgageJudicialComplaint3180 daysAllowedTennesseeTrust DeedNon-JudicialPublication2NoneAllowedTexasTrust DeedNon-JudicialPublication2NoneAllowedUtahTrust DeedNon-JudicialNotice of Default4NoneAllowedVermontMortgageJudicialComplaint7NoneAllowedVirginiaTrust DeedNon-JudicialPublication2NoneAllowedWashingtonTrust DeedNon-JudicialNotice of Default4NoneAllowedWest VirginiaTrust DeedNon-JudicialPublication2NoneProhibitedWisconsinMortgageJudicialComplaint2-3NoneAllowedWyomingMortgageNon-JudicialPublication23 monthsAllowedReasons why people lose their homeA loss of an income, death in the family, medical expenses and other life-altering occurrences can happen to anyone, causing us to fall behind in our loan payments.

Or, have a good working relationship with a hard money lender... as banks will be useless.Tilt yourself toward cash flowing properties - it is the flippers who were really caught with no chair when the music stoppedMake certain your financial situation would not require you to sell a property at a loss (time is on your side - my shelf life is shorter than yours) Consider avoiding purchasing a condominium or home in a planned urban development due to overreaching homeowners associations who can AND WILL alter bylaws (after you purchase) preventing you from renting an owned property. 

The seller, while very motivated, is also out of patience, and is ready to kill the deal.In an attempt to keep it alive, a dialog with my agent led to permission from the seller  "to do whatever it takes to put this deal together"This was in regards to altering the property to meet the requirements of the lender, to be clear.As it stands, we close in a week.

From when I used to do extended transactional funding, I wouldn't allow any alterations to the property until AB and BC have closed.  

They do not understand that lenders do a soft pull right before closing to see if any new debt is shown that alters the loan approval.I don't do residential but I am helping my brother in law.

Example: purchase price =  199,000monthly gross rents =  265550% of 2655 = 1327Mortgage payment= 8051327-805 = 522 estimated cash flow monthly Cap rate 7.9%With 50,000 down, that gives me a cash on cash return of 12.5%I realize the 50% rule is a very basic estimate any many things can alter this, but do my numbers seem correct?

If you are still in your inspection period and nothing in the addendum concerning the roof altered this, then yes.

You can (generally, check local laws) implement or alter the house rules to some extent, with proper notice to ALL tenants.