PITI plus an additional loan could make this a bad deal ..demanding to interest rate from the down payment source. 

Unlike a typical flip, as you mentioned, you will have tax advantages as well as subsidizing a place to stay; additionally, you may be able to use an FHA 203k loan which may likely be the best source of funding.

Just food for thought!

Since no one has chimed in you 1st need to fine out if they are allowed in the area you want and then your best source of info is your competition.  

IMO one of the best sources is Realty Trac. 

Here is what we put in our move out letter, which may be helpful to build on:Specifically, here's a list of items you should thoroughly clean before vacating:[ ] Floors[ ] sweep/mop laminate floors[ ] vacuum carpets and rugs (shampoo if necessary)[ ] mop kitchen and bathroom floors[ ] Walls, baseboards, ceilings, and built-in shelves[ ] Kitchen cabinets, countertops and sink, stove and oven--inside and out [ ] Refrigerator--clean inside and out, empty it of food[ ] Bathtubs, showers, toilets, and plumbing fixtures[ ] Doors, windows, and window coveringsPlease don't leave anything behind--that includes bags of garbage, clothes, food, newspapers, furniture, appliances, dishes, plants, cleaning supplies, or other items that belong to you.For move in, put all info in the rental agreement.  

I was just in Paris a few weeks ago and swear I gained 10 lbs from eating all the amazing food!

." - source: Foreclosure.comVirginia is non judicial foreclosure state.

How did you source the deal? 

yeah, i can see that 1) stop the source of the leak2) get rid of moldy yucky stuffwould be stuff you could do without a Specialized Mold Technician (who one estimate is invoicing at $110/hr) but then you might have to bring in the SMTs for the sporicide and the HEPA air scrubbers etc.