While we do have cash saved up, we'd prefer to work on our credit for another year before looking at getting a mortgage or commercial loan to possibly do a fix and flip.If you were us, would you a) use our cash to purchase, fix and flip something older and cheaper outright which seems like a huge undertaking for our first deal, b) use our cash as the downpayment/skin-in for a hard money loan (balloon) while we work on conventional qualifications to refi at a lower rate in 12 months, c) My in-laws are in the process of purchasing a seller-financed home and are interested in "renting-to-own" their place to us.

And that value is two-fold: firstly, you get the value of newly upgraded property (and you don't close until the rehab is done, so that vacancy time isn't on you), purchased at market price, that (if you finance) your tenants will pay 75-80% of over time; secondly, you get the psychological value of knowing that someone else has skin in the game, someone who absolutely knows what they are doing and has efficient systems in place to ensure you do as little work as possible while still collecting monthly income.

They have more skin in the game then you do.Make sure you get clear title.

Google "bifold door ideas" for inspiration.I guessing you have plain slab interior doors in the rest of the house, so I'd recommend a simple, clean design to complement... like louvered, or a multi-paneled shaker style, or with large single frosted glass panes (they'll glow when the light is on in the laundry).

I’ve had the idea of house hacking my first investment, Just to get a feel  and some skin in the game.  

They have more skin in the game then you do.Make sure you get clear title.

They have more skin in the game then you do.Make sure you get clear title.

They have more skin in the game then you do.Make sure you get clear title.

That said, please be sure to follow forum rules and not solicit in the forums outside marketplace or spam via the message system, both of which are against the terms of service here.Based on your initial post, it sounds to me like you have more to offer than most so in my opinion, you have a better chance since you have the skill set AND some skin in the game!

Most portfolio lender also like to see that you have some "skin in the game".