So, you'd need to determine if those costs are worth the benefit of building up that bit of equity during your time in San Diego and if you'd be willing to subsidize this property as a rental because you didn't have to put any cash down (Darrell in the linked article mentions this, though his scenarios were more like $100/month versus several hundred, if not $1k+ if you can't get that much rent).Obviously, the numbers change if you can find a property at a better price, a multi-family where you can rent out the other units, or are willing to relocate to a lower price area but because you mentioned wanting to stay in that neighborhood due to family, I stayed in the 92124. 

And whether it is labeled as an Attorney Fee or Doc Prep or something else on the Settlement Statement, the borrower is paying several hundred dollars or more for it.

@Paul YousefI had to read your post several times as I thought my eyes were playing tricks on me.

He missed two large cracks in the basement, a severely bowed piece of wood above the window in the same bathroom that needs to be reinforced (probably another 2k), the washer wasn't working, etc. etc.

There are several advantages that I see .

So the next time you guys have a severe post closing issue don't just fold and give up because it says "As is"

Invest in a syndication or several or crowdfund deal4.

You wont know until you ask.As far as the hard money lenders (similar but not the same as private lenders), there are several listed here in the Bigger Pockets under the tab "Tools" in the option labeled "Hard Money Lenders".Some of the previous responses gave you some very good options.

I actually have helped several people get into investing and had to nudge/push almost every one to do their first deal. 

It's now been that way for several years.