You'll learn more from failing than taking zero steps at all.

@Anthony J Robinson  Hard money loan if you're looking to flip it, or a local bank / credit union (portfolio lender) if you're looking to keep as a rental. 

Problem is, you will have great trouble finding a bank that will do a FHA loan for a home that isn’t move in ready.

It’s in the banks interests to have conservative appraisals and the appraisers work for the banks..

Try Private Money if you can find it or call around to local smaller banks and tell them what your doing and ask what loan would be suit your needs and ask what their rates are.Also I personally thing your Vacancy, Repairs, and CapEx is low.

For the average joe, our money is deposited in the large banks.

Don’t bank on it, of course.

Although banking on equity is a bad strategy, I would hate to see you have no equity and no cash flow one day. 

Have them give rent to manager and manager either deposits into the bank or into whatever program your using2.

@Christian Nachtrieb I don't do the collecting, However all of my properties that require an HOA payment collect from me either via an Automatic withdrawal (ACH) on the 1st business day of the month, or I personally do a monthly electronic transfer into the HOA bank account.