Water table and soil type are two reasons most TX houses don't have 'basements'. 

@Philip Wilson since you have defined your goals, you can now take flipping pretty much completely off the table.

I don't mean to hijack the post, and don't harbor any ill will, I just believe that we need to keep all options on the table for new investors. 

Tis house does need a ton of work, but I knew that going to the negotiation table...

I was helping a client with the same questions as you and the listing agent/landlord responded with “ the property can be viewed and other questions answered only if there’s an offer on the table” then comes to find out it’s because most buyers don’t want to buy severely damaged properties and the landlord want serious buyers only.

I used the VA loan and the lender also gave me a credit for closing costs. after everything was said and done, I actually made $600 at the closing table.

Mentors that are actually working full-time in the business might be interested in partnering with you if you are able to bring something to the table to help them as well.

The listing agent told me I “can’t” bring a broker to the table as he WILL NOT split commissions.

It was a cash purchase that my partners brought to the table.

The harder you work to bring good opportunities to the table, the better relationships you will develop with 'real' cash guys.