If you just buy it and do nothing, they will be inclined to use the price you paid.You will also need to qualify for the loan.

I’m inclined to agree.

You didn’t touch what is likely the issue, so I would be inclined not to fix it and not provide contractor warranties going forward

My inclination would be to borrow the money from a private lender and then refinance into a conventional, long-term loan and pay off the short-term private loan. 

I was viewing it as a way to get into a property when alternative financing is not an option and when the seller does not have the equity or inclination to seller finance, but I take your point that it should only be done by people with capital and capacity. 

I'd be inclined to ask for half up front, if you feel it necessary to do the 'hold' thing, however typically best to get the whole deposit upfront anyways and always best to make the security deposit a different number than the rent so there's no confusion between the two....... good luck!

In this case, I'd would personally be inclined to keep the home as a long-term play.

I would definitely be more inclined to get a quadplex if I could find one around here.

BUT, I would keep a spreadsheet (or accounting software if you’re so inclined) and track the set-aside for capex, vacancies, maintenance, etc.

I know a bunch of good ones, let's chat because some are going to be more inclined with your end goal than others... for example, if you're just looking to do it for the least amt period, there are plenty of dudes who will do it for next to nothing.