Profitability can also be enhanced on a sale (sometimes) if we choose to provide owner financing or wrap financing.  

To provide more information, I am in the Nashville area.

Do I need to provide them with a scope of work or will they look through and give me a general cost for different aspects of the house? 

Overall, providing the option to buy in the lease can be a great opportunity for both you and tenant; provided the quality of the tenant.

Additionally, seeking mentorship can provide invaluable guidance as you navigate this new venture.

I can comfortably put 10% down with at least another 10% in reserves for any updates or furnishings.

I'm a software developer and very good with a spreadsheet and all, but I'm wondering if I could secure an experienced lender who not only can lend, but also provide advice on a deal like this from having financed similar situations before.Pointers to financial calculators for such an endevour and hotel/motel renovation-style lenders & contacts appreciated.Thanks,Matthew

They provide a format for calculating the bid but no real directions with it.

Assuming current interest rates my debt service would be around $87k/year (30 year, 7%)  which I am comfortable with.

Did Wells Fargo require you to provide any local address?