And I am willing to bet there is no law covering "Accountability Deposits". 

If you plan to hold and rent this house for a while, I strongly suggest you personally/safely inspect the crawl space with an experienced foundation contractor or (better yet) an engineer. 

Probably your best bet.

I'll bet @Brandon Turner knows! 

If you get conveitonal loan, which for single family goes as low as 5% or even 3% in certain cases at least in NJ, the PMI comes off when you reach 20%.In a non-conforming loan, then all bets are off.

@Adam Frantz Jody got it right from my experience - your best bet is to purchase it yourself and then transfer it into your LLC to start establishing cash flow.

I agree with @Joseph P Finkelstein that finding a co-signer to supplement your income is your best bet, if at all possible.

That building looks decently turnkey but I always factor in at least some upfront reno cost for safe measures regardless.

The seller cannot remove his name from the first lien position on the property without paying off the loan  unless that is stipulated in his loan agreement and you can bet your $30,000 that it is not.

Best bet right now is to look where others are not and get creative.