When I talk to sellers Agents (and mention double dipping), I hear a lot of:"I think the sellers would be willing to go down to $60000 (on a house listed for $62000) and $58000 for an all cash offer."

@James Wise That is a good point, i like that you mentioned the ghetto because that is what i was kind of thinkimg to get my feet wet.

Post more information and someone might be able to help you since a lot of people have tags make sure you mention the county and several nearby cities to get the best results 

BUT we had to buy one for one of our aging parents.

My question relates to the $91k (13 units x 7k) I need.I have heard Rod Khleif and others mention that you should always raise the renovation money along with your initial equity raise.

I see I made a major deficiency in purchasing my current property with the age of the key items, e.g. gas furnaces, water heaters, washer/dryers, refrigerators, stoves, plumbing, electrical, etc.

Mentioning anything to a lender in terms of using it as an investment can trigger them to be leery of the loan and require a larger down payment.

you mentioned it is in a flood zone, call a company to get an estimate as you want to make sure your numbers are accurate. you don't want all your bills to be higher and you are not cash flowing.

Its about an hour drive for me and probably for you too but thought I would mention it. 

As Joe mentioned above your age is going to be a huge factor to creating generational wealth as your investments will have more time to compound.