We wanted our first property to provide us instant cashflow and not require much as fair as renovations and repairs go (at least starting out).

I left very motivated but didn't learn much that could be applied instantly.

I did this for my son who is your age and it gave him instant credit.

This brings their loan down to $300k and instantly gets them 25% equity in the home.

I don't agree that you can instantly or even quickly go from under $600 to over $700 per door in rents, likely not feasible, but if you can get them up to $2600, lower some expenses, and self manage without too much effort, you can break even or have a slight gain monthly, acquire a needed tax deduction (providing additional cash flow), acquire equity through principle reduction, and acquire appreciation from the surrounding improvements going on. if you need is not strictly cash flow, then this could be a decent play for you (of course, there could be much better deals with upside AND cash flow, but I don't know your area or how hard you have looked).

See if you can find one of the last remaining SS or repo units now and you can possibly get in with instant significant equity.

You should market it under the normal market price to sell it instantly.

Bandit signs are like an instant trigger around here and it gives me a sensible chuckle whenever I think about it.  

I would estimate we made 100k instant equity after the renovations were complete.The reason I started in real estate  was because of a horrific car accident in 2004 that has left me disabled where I am unable to hold a full time job.

Every time Fannie or Freddie come out with some new restrictive rule, me and folks like me instantly go about finding ways to flow around the rule (water around a rock) without committing fraud.