There are many approaches, but if you're in the business for income to live off of you need a mentality of setting up transactions of all kinds on an ongoing basis.

@Elizabeth C Thanks for the tips i actually plan on going officer, but im gonna put in some enlisted time im about to receive my AA @Dustin Salmon were you enlisted or officer?

But mainly 250 every week because Click2Mail has an ongoing deal for 250 stamped postcards for $85/flat.I've used ListSource once since I started.  

In doing this whole transaction I plan on going in with some partners due to my young age, financial limitations, and lack of knowledge in handywork.

You might want to consider having a leasing agent place the tenant and let you do the ongoing management.

That way unless fraud or bankruptcy carve outs only the down payment is at risk.It can sometimes  give leverage against the lender when they only have the property for recourse when a loan needs to be restructured due to ongoing issues with a property.

Most of the repairs are cosmetic and I don’t plan on going top of the line.

Foundation issues don't usually scare me, but the fact that the property has already been pinned and re-pinned tells me there are some on-going issues there that may be hard to fix.  

To get the best results, find a company that does it all:  acquisition, rehab, passes a 3rd party inspection, offers a warranty on their rehab, places the tenant, and provides ongoing professional management. 

We can assist both with acquisitions and/or ongoing management.