I’m considering consulting an attorney to explore my options, but my budget is limited.

In Phoenix, a 1996 build is practically brand new when compared to a WWI-era home in Cleveland or Pittsburgh or some other Midwest or East coast city.While I agree that older homes come with more problems, buying something newer may not work as the price will be higher and won't cash flow as well.I'm of the mindset to buy what fits your budget and investment goals.

When I had arrived I found out that this guy had one truck, his own personal vehicle that doubled as his work vehicle.. and some personal tools.

The biggest challenge was addressing unforeseen structural issues, which ate into the budget.

It is rather difficult to make BRRRRs pencil out right now, so you should budget to leave some capital in the deal on the refinance. 

The GC is a business person who doesn't care about your ARV, LTV, or your budget.

It won't be a free truck.

Have you consulted with lenders to discuss your budget and options?

Average tenants budget to their income and their income changes very modestly each year on average.

You will need an additional $300-500/month budget for capex.