But, the podcasts and YouTube videos sounds like a great idea and I'll have to do some exploring.

This doesn't sound ideal for me in a rising interest rate environment.3) please provide any advice you have when comes to using owner financing, things to watch out for.Many thanks

@Eric Schwake It sounds like you have done all you can as pre - due diligence. 

Sounds like a good deal with solid upside @Ben Leybovich and @Garison Clemens.Re the 50k, I understand how the inspector and the PM feel about it, but if you are getting a good deal there and want to keep you name clean from been re trader then perhaps just raise the 50k.

It doesn't sound like you have a reputable insurance company.

I originally was looking for the mythical 'structurally sound but killer deal because it has some broken windows and  hasn't been remodeled since the 1940s' type of place, but I've since lowered my standards to include properties with major foundation issues and the like.

The loans is only for 45k does this sound normal or should I be looking elsewhere for the money?

Is this sound good or bad?

Thanks @Chris Ed sure, that sounds great!  

@Rebecca CramerMany hard money lenders are looking for folks to have money in the deal, which it sounds like you would like to have money in the renovation.