I do own two triplexes in Scranton, and I will say the one issue is that you are going to be taking care of the utilities normally if they are not on separate meters, which could take a good amount of money away from your overall cash flow. 

Most likely all new mechanicals, windows, a fair amount of framing, insulation, etc., etc.

If you bought the certificate from the state for the full amount quoted to you, you must contact the state and get the calculations of how they arrived at that number.

Loan Amount: We specify this as a percent of the purchase price.

The time and amount offered would not be negotiable. 

I have been trying to keep an open mind while but I see a good amount of value in long-term rentals of SFH and multi family units.

Yes if you hold it long term (really long term), you may get back the same amount that you would have received by not paying capital gains, but you have to hold it long term AND have the house appreciate. 

I don't need hard money because I have a lot of cash.Purchase: $190kDownpayment: $40kClosing/Realtor: $10kLoan Amount: $150kRenovation: $15kARV: $250kRefinance: $5k Final Loan Amount: $190KCash Back: $40KCash Spent (Down & Renovation): $55KCost to buy (Closing/Realtor): $15K---------------------------------------------------------------------------------------Total Monies Spent: $30KLoan Amount: $190KMortgage: $1.8KRent: $2KThose are rough numbers going through my head.

Those with little to no experience should have even larger amounts of reserves in place before they purchase real estate. 

The deposit amount when working with a lender comes from the lender - it is basically the amount of skin the lender wants you to have in the game.