I'm always hesitant to improve property I only have the option to buy later, but as a seller I've done both granting an option and interest-only SF with low down for the right buyer and situation like this. 

I've seen houses 100 years old with the appropriate upgrades and maintenance that are better rentals than homes built 30 years ago.

When dealing with tenants and especially low income tenants here are a few thoughts based on 20 years experience and a few evictions:1.

Hi Samantha,Depending on the type of investments, there are hard money programs that can go as low as 10-15% down.

Keeping a low level of risk; low DTI, diversified risk, etc but I think primarily it is solving the question “if something bad happens can we carry the property and for how long?”.

🙏🙏🙏 I have asked this question before, but everyone who got a hold of me was more interested in seeing how low I would go… That is not helpful.  

That can be as low as 5% for a primary residence. 

Leave the management fee and management reserve, unless you are planning to self manage.CAPex should be a one time cost, so you can remove that once reno is done, but I would add in a maintenances reserve, of 5%-8%.You either need to get a better deal on the property through a discount or creative financing, or increase rents.Do not force a deal.

I've read the Book on Rental Property Investing, No and Low Money Down, and Managing Rental Properties.

House hacking will allow you to acquire the deal with a low downpayment (3%-5%).