I live in Boise and help new investors start building their portfolios on a regular basis.

The BRRRR strategy, in fact, depends on forced appreciation and regularly turning over your personal residence (for the tax benefits) as one of the strategies to build your wealth.

I go to the Alamo and SA REIA's regularly and a few off meetup.com already.

You may be able to borrow the down payment from your 401k, and then pay yourself back via regular payroll deductions over several years.

The house rents for $850/mo, and I think I could push it to $950, give or take - but the debt payments (30-year loan at 4.75 or 5%) and taxes and insurance would take up all of that, leaving nothing for renovations.One alternative I’ve pondered would be to secure it and then seller-finance it to an owner-occupant.

I believe the damages will be more than the security deposit.

I believe the damages will be more than the security deposit.

If they pre-pay last month's rent and a security deposit equal to another month's rent, I think they have strong incentive to not bail in 6 months. 

I know of an investor who uses that strategy regularly and does fairly well.

I hope that you have changed the locks and secured your property to prevent anyone else with a key to return.