My point is to try and take a 10,000 foot view.  

@James Miller I normally never do this, but I feel the need to here.  

If they really want the house, they should still want it in a year or two, and they should be able to save up the 15-20k they need to buy it with a proper normal loan.I realize a ton of people may disagree but let's get real, the biggest problem with the real estate market is people buying what they can't afford.

How much $ in dollars or a % would be considered standard, normal or the going rate?

I called 2 property managers personally and told them the street and that it was 800 square foot 2 bed bungalow and asked what the range of rents were. both said 500-600 max.  

i have had glass cut for a window at ACE and they cut it for free and just charge for the glass by the quake foot so for your situation you may end up spending more depending on the cost savings and sheet sizes you get in comparison to your window size... i.e. if you save 30% on the glass price but 35% of the glass is scrap pieced you throw away your better off buying from ACE because they only charge you for what you need... 

For us it has been all about baby steps and going one foot in front. 

Points charged by the lender (wouldn't you only get this once the bank has the property info), Cap rate, closing cost ( I normally estimate about $5-8K but if you are doing a rehab loan wouldn't it be different?). 

Is this normal practice?  

But sometimes, you all make me realize that these are normal thoughts.