My biggest concern is that it is condemned but I am assuming there's an investor out there who could demo the house if the numbers look right. 

Real estate is totally different and if its the biggest bank then they don't hold the paper your best off starting to look small bank and or credit union.

I would recommend Brandon Turner's book "Investing in Real Estate With No and Low Money Down" Your biggest tasks right now need to be to learn as much as you can through research, reading, networking, bigger pockets, etc  and getting your personal finances in line in order to be able to start saving for a down payment.

@Kevin Lefeuvre - I would argue that one of the biggest misconceptions about Short Term Rentals is that they need to be in some super hot vacation destination.

That's the biggest hurdle I'm experiencing in my planning for my future cash flow properties.

This is in Small to Mid-sized markets, not the biggest cities in the nation.

I've estimated around 45K for a rehab.Fixed Costs (realtor, closing, staging) = $19,200Desired Profit = $40,000Rehab Costs = $45,000MPP (max purchase price) = $75,800.As far as financing, I feel like this is going to be my biggest hurdle.  

That small likelihood is my biggest fear though! 

Getting my place "turned over" between guests is my biggest hassle/cost with more than one unscheduled day off to run out and back.

One of the biggest benefits of doing the lease option is that the tenants will be responsible for all utilities and maintenance.