I know most people are getting back to work after the long holiday stretch. 

I'd like to meet a few folks face to face if they are around during the holidays, but I know that may be a stretch.

If they could not pay minimal amount before then stretching out a payment  plan at even higher amounts for a long period of time the default rate is very high. 

I've met many young people in Arlington who stretched and bought a large 3-5 br town home or single family home and rented out individual bedrooms for $1000-1500/month.

He is not it's sole practitioner by any stretch of the intimation . 

You didn't indicate your amortization, but I also stretch those out for 30 years.One concern I had on your note was your comment that your down payment will affect your rehab budget. 

Plus this specific property is on a rough stretch of 35th Ave: ( https://www.redfin.com/CA/Oakland/2626-35th-Ave-94619/home/552254 ) --- so my concern is that rent won't increase enough to cashflow and cover the mortgage, repairs, and vacancy when I'm ready to move out. 

Having said that, depending on your entry into the industry, your dollars will stretch further out of state.  

My husband works, but he's in non-profit so his income only stretches so far.Is a hard money loan my only option?

I'm using my own house right now as a short term/vacation rental, and we're not in a tourist destination by any stretch of the imagination.