Should I just add them to my 'Cash Buyer List' and move on?

Purchase price: $160,000 Cash invested: $35,000 Another 1% single family deal in a transitional area creating long term wealth

What you have calculated is not cash on cash return.   

Once you've done that for a couple years, you should have an emergency fund and the money for a downpayment.

You should jump into the weeds as long as you have a few exit strategies, know the market, have a stable 9-5, and emergency savings.

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FINANCIALS: End of January we will be 100% debt free and we have a personal emergency fund saved.

Talk about CASH FLOW!!  

Conventional loans will require 12 months seasoning for cash out and are usually capped at 75% LTV 2.

During this renovation period would you, as the lender, want an Actual Cash Value or Replacement Cost policy in place?