If they are not able to save up a security deposit, they will not be able to do a number of other basic independent living and financial things, either.Also, don't make the rent too low or you will attract addicts. 

I was looking at buying my first rental property in the spring but my financial situation improved faster than I anticipated and it looks like I’ll be able to purchase by the end of August early September.

I will handle negotiations/finding tenants if we choose to rent/financials while my dad will manage the property and take care of any small repairs.

There's bidding wars, institutional investors overpaying, and the masses assume because it's an REO so it must be a deal regardless of what the numbers say.

I am hoping some lenders or well seasoned vets on this website can help me.Most conventional financial institutions will finance a property at an 80/20 LTV.

Do I have any tax or financial issue?

A SFH makes no financial sense to me

I understand my journey as a real estate investor will take some time to become financially independent, but I am in it for the long haul!

I'm not a financial planner or adviser but if I had to do it again.

Glad to see a new investor that appears to have his financial house in order!