However after running the cost it would be a 25yr loan of $33,000 at 5.99% and the monthly payment would be $150. 

The primary challenges would be about the safety of settlement transfer for a physical currency transfer (like gold) and the specificity of timing and valuation of transfer in digital assets. 

Required down payment is typically 20-25% depending on FICO, property type and level of experience. 

For example, if the house is $100k and the renovations are $10k, your down payment would be 3.5% of $110k (plus closing fees of course).

Drug his feet on getting together the $12k down payment but eventually came through.  1 month later has missed the first payment.  99% sure I'll have to foreclose on him. 

Physical or digital?

The house has a little mortgage that can be paid with the down payment. 

I know many hosts have completely recouped all their down payment and furnishing costs within the first year just by doing a cost seg.

They work closely with tenants and community orgs to keep the payments coming in during hard times and the team will help you with evaluating upcoming purchases. 

Theoretically I could obtain a HELOC on my first property for the down payment on this one and sit on it until I have time for reno.