I am not suggesting doing this for the roof but two ways to convert insoluble iron oxide( rust ) to a soluble form that is removed with a water rinse is to use either oxalic acid ( 5% solution on the rust for about 30 minutes( can wet towels so it adheres and does not run off) in water or a commercial product called "Iron Out" which is sodium hydrosulfide I think.

Mostly Elmers glue for that matter which is water soluble and only serves to exacerbate an already very tenuous unpleasant situation. 

I see deferred maintenance in the future.I believe a big plus for them in owner financing is deferring the capital gains, and still getting those monthly checks, but there are cons for them too like not getting a fat check and still owning something with 3 other people.

Hi Kim,The house is screaming for a proper proper porch/entry with a portico... it would completely transform the front facade and give the house some much-needed curb appeal.That said, with your extremely limited budget, the next best solution would be build a MUCH bigger wood porch over the existing one (no demo cost, and it's below the entry treshold) that extends a few feet farther into the yard from the house, and if you can afford it, to the far right small window.Either way, build two simple fat columns at the corners of the porch that would be about a foot higher than the railing, and positioned just outside the two smaller windows flanking the entry door.Then, paint the entry door a deep, very rich burgundy.It probably would exceed your super-tight budget, but would absolutely be worth the investment.

I had an LNI inspector say to me, "Either you are the most naive person or a big fat liar."

Then once a month watch as you get a big fat rental deposit go into your account.

I would like to raise the kids till about high school (roughly 10 years away) and sell for millions and move closer to the coast with my fat chunk of change (subject to the future outlook of the immediate area).

And . . . . it's not as if the budget is going to be fat and happy on these jobs either - there is always lower hanging fruit than rehabbing houses for investors.

For example, if I ever used Vinyl on project it would sit there like a big fat log.

Then, build a pergola straight out from the wall to completely cover the entire deck, with two fat supporting columns at the corners.The least expensive way to create interest with the entry leaving the steps as they are, would be to build a "shed" roof sloping toward the front yard, over the landing... maybe use a cool standing-seam roofing material.