I have read that when HUD sells a home in need of repairs they will require those repairs be done within 6 months, or they want a certain amount put in escrow to go towards these repairs, if I recall correctly.

I would personally pick option C.Place tenant myself and self manage for the following reasons:I don't like giving away 10% of my rents.No one is going to care about my property more than me.I have systems in place that allow my to self manage with minimal time.I have a great support staff that I can text when there is a repair that is needed.I rarely take calls from tenants and tell them to text me to keep from getting caught up in their drama.If they don't pay rent on time and it is a repetitive problem I file an eviction to train them they must pay on time or go somewhere else.They can pay rent with Zelle, paypal or deposit rent into my bank account (most deposit into my account)It is their job to pay rent on time I do not collect or chase rent it comes to me.My rental portfolio is very passive with little interaction required by me.

I do all my own repairs but would be contracting for big jobs.Here are the details:Sales Price: $299.9 (working comps)Total Income: $3.3k (rent) + $325 (other) = $3.7kTotal Expense: $2350 (mortgage) + $400 (Water) + $409.8 (Vac) + $372.5 (Repairs) = $3.5kCash Flow: $192.75Annual Cash Flow: $2.3kDown Payment: $0 because I'd try to solely do this with HML upfront and then refinance in 6 months with bank.

@Tyler Jahnke I agree with Chris that a partial may be a good choice for you but make sure you keep enough in reserve to cover any vacant and/or sudden repairs that come up.

At the same time, credit repair your personals to the max, and then refi in the future after all the debt shows up $0 on your three credit reports. 

Or do all repairs need to be corrected before any sale of the property, even to a flipper? 

I'd advise you to stay away from an asset that is extremely distressed and in need of a ton of repairs. 

Growing up my parents had a few rentals so I had some background, but my involvement mostly consisted of helping to clean, paint, repair, etc. to get the house ready for a new tenant. 

I recently had to replace some water damaged ones, and having struggled with this stuff in the past to do a decent repair job because of the blind tongue & groove nature of it, went to Harbor Freight and bought a 1/4" air crown stapler for $20.

I would try to do the 203k loan to finance most of the repairs.