I would then call the lenders and get all details of the loan programs, fees and time frames involved.

If it fits that criteria, you can still get Fannie Mae Delayed Financing on the property up to the max. of your original purchase price + closing costs, on a 30 year mortgage. 

A friend of mine had to do an insurance claim involving body fluids where it was disclosed to her that the insured was HIV positive. 

I would never put someone that in not involved, nor has nothing to gain or lose in-between me & my cash flow.

Included was having his electrician check to make sure the property was safe for workers which involved flipping breakers and capping off flood exposed outlets.

Your agent with experience can help you identify properties that would be a fit for a 203k loan and then guide you through the offer/transaction process which is a lot of times very different than a traditional purchase.

The banks price them high enough to recover costs involved in the foreclosure every time. 

There are quite a few inspections involved in the rental process, and all of those take time. 

A partial purchase was a natural fit but due to the seller’s age they didn’t want to wait to receive payments on the back-end.The solution?

Tell her that and do not get involved.