Properties on the lower end of the spectrum can only appreciate so much as first time home buyers will have limited budget and prices will be difficult to pass a certain point.

One year after the case was decided by the California Court of Appeals, Texas became the first state to regulate home inspectors and pass a home inspection licensing law.

I put in the ad that they need:- To pass a background check - Make 3x the rent- No evictions- Credit score of 650+ preferredIt's been working pretty well so far :) Here's my form if you want to create one for yourself.

or why would you pass a positive $300 cashflow just because you are waiting for a black swan?

All properties of interest must then pass a rigorous validation process, including estimated renovation cost and risk.In 2017 we standardized almost all renovation components and costs.

Again, they are only supposed to pass a roof for replacement if it has significant hail and/or wind damage.

If not/if the property is in good enough condition to pass a conventional appraisal then you could skip the higher interest hard money loan and can buy or refinance in either your own name or in an LLC. 

One potential pitfall however is that the property must pass a VA appraisal process, one requirement of that process is that the property is livable by VA standards which will limit you on the scope of work required on prospective properties.  

Biden is planning to pass a bill where it would help first gen homebuyers and give them 25k for both the closing cost and down payment.

This means that the property will typically not pass a conventional or government type appraisal.