Can't recommend @Joseph Cornwell enough, he helped me buy my first duplex in Cincinnati and he has a contracting business, so he can give you advice on repairs, remodel costs, etc

Consult with a Financial Advisor: Seek advice to navigate negotiations and explore refinancing options that best fit your needs.By taking these steps, you can work towards lowering your interest costs while keeping your loan terms unchanged.

Just turn it off before it renews and that's all it costs you.2.

Personally 0- but I have been through quite a few low cost renter trashed units for sale.

Probably will cost you more . 

Partner Driven financed the Owens Creek Rd deal using its own capital, covering the $250,000 purchase price and $20,000 in renovation costs.

In short , any rate/currency hike is causing liquidity crisis causing delay in ground up project even for project that was approved 2 4 years before the rate hike…. plus build costs/  profromas run 3 to 4 years ago are wildly in accurate

I've seen burnt out units that didn't cost $35K to rehab. 

You can use an FHA loan with 3.5% down (That’s $7,000 cash out of your pocket) Then there are closing costs of a couple of thousand dollars.

Buying an existing place that needs upgrading might be more sensible but it will still cost a lot of dough.Plus the purchase of the catamaran.