Maybe there is some sort of way to creatively finance and reward any tenants that are willing to come in and fix up their future home.

And I am not joking, I have put this out many times, even offered a bonus reward if the OP took me up on it.

Yeah it's a higher risk/higher reward/higher work (unless you use a manager) than long term renting.

By all means, if one has the plan to make it in a non-traditional way, the rewards can be bountiful.

I'm pretty deep down the credit card rewards rabbit hole and haven't found anything like this.

As rewarding as a rental property can be, they can also engulf your business if you get involved in a bad property.

I just hate to see behavior like this get rewarded.

If you are willing to consider markets like Wilson, Rocky Mount, Henderson, or Fayetteville you can find some extreme value add properties that when finished will net a higher return than Raleigh ... but that's the risk reward ratio coming into effect. 

Commercial loans (even if they are personally guaranteed) typically will NOT show up on your personal credit report.There is a risk reward.

The "sacrifice now, reap the rewards later" mentality is tough, but it does pay off - I think you're right in wanting to invest money now to use later on a home of your own.