As you allocate your budget, I'd suggest factoring in a decent portion for interior design/furnishings and amenities.

If you're looking for ways to accelerate, consider these options:Seller Financing – Some sellers may finance a portion of the purchase price, reducing your need for a large down payment.DSCR Loans – These loans focus on property cash flow rather than personal income, often requiring only 15% down.Private Money Lenders – If you can find a PML willing to work with you, you may be able to put less down.Partnerships – If you’re open to splitting profits, you could bring in a partner who funds the down payment.Since you’re okay with the slower path, just keep stacking cash, but these might be worth exploring to move faster!

One other question I wanted to ask is if during a short sale if the lender would be agreeable to pay a portion of the closing costs?

Goal is cashflow or at least covering a substantial portion of the mortgage. 

JV could be the solution.I'd rather have a large portion of a good deal than 100% of nothing....

Otherwise, it's like a good dog and walks itself.You might consider handling the lease portion yourself to alleviate that portion of the stress.

.#2 Read the property code 2-3 times before you start ....the tax sale portion. 

Depends on investor.Some want low risk and will do it as a loan or want a straight pref.Some may want some upside so go with lower pref and some portion of the upside and some will not care about the pref and want upside which has higher riskNot a one size fits all and depends on what you are looking for.

@Rick Zink I also wanted to share with you some key questions to ask a lender when you are looking.Are you a direct lender?

I signed up for something on Ron LeGrand's web-site (the free access portion).