:-)BTW, I'm actively looking for working partners with some cash to put in for the short to mid-term.

Thanks There's never any guarantee you're going to get 100% of your own cash back out of the house especially in a short time frame.

I'd focus on deciding what you want to do (flip-high risk, but potentially high return...or large loss; short term rental-more work, but higher return than long term rental; long term rental-less work than the other two, but lower return).Once you've decided which you want to do, then focus on getting the best house to meet your goal. 

Doing short-term rentals would be very interesting.

My specialty as an example is working with investors looking to build portfolios of Short Term Rental/ luxury vacation properties all across the US.  90% of my clients use the 10% down second home occupancy loan.  

The lot is flat and level, so we only need a short gravel driveway.

Therefore, if you look at history, real estate has continuously performed in an upwards fashion while, like any other investment, has experienced short lived corrections from time to time.

If you're buying it shortly and THEN after you own it will it be ready and available for rent-the costs will be capitalized and accounted for with the basis of the property as well (when you eventually buy it). 

Look for any clauses about rental caps, short-term rentals, or owner-occupancy requirements.

I would generally rent to them even if they are a little bit short on rent to income.