I went into Home Depot thinking I wanted ceramic tile, but the associate who helped me seemed to think click-lock vinyl would be a better option.I don't know anything about flooring, and figured I'd just hire it out, but I'm not opposed to DIY if the hourly return is high enough.

I'd like to earn decent return on it, and like the idea of financing real estate rehabs, either as a partner (the money), private lender, or hard money lender.

The last option we have is to add $50K to the raise, which lowers returns, obviously, but not by a lot.

I'm not sure how I would include that in calculations, but it seems that despite having cash flow, you wouldn't have an actual return on your money until you bridged that gap.

Potential high growth returns but likely more management headaches? 

So in the end, you either get the property or get a high return on the investment. 2.

Your Cash on Cash Return is non existent.  

Unless you're planning on significant appreciation or rent increases this is likely a loser, although ultimately I would decide based on the potential internal rate of return for the duration of the investment, to see whether you can invest that money for a better return elsewhere.    

If your other rental properties at least break even on your tax returns, perhaps your wife could qualify for the new one on her own.

Due to the fact we have not filed our 2018 returns this year we are having trouble getting a mortgage.