In other words, if I had 60k I could either rehab and flip 3 section 8 quality homes that bring $1,200 in cash flow compared to flipping 1 home that is bringing $300 in cash flow if I'm lucky.

I've found so far that most potential buyers/renters do not even bring up the power lines. 

3-6 months would probably bring in a tenant and allow you to rent out your apartment.

Bank has its own agenda even you want to bring bag of $100 bills with 24 hr COE.

Your CoC goes up if you bring less money to the table. 

Plus I can bring the city down on them when they get out of hand.

First, if your landlord accepted payment - partial or otherwise, they cannot bring an eviction during the month you paid.

Overall, this seems like a significantly overpriced property, one which I would likely need to bring the purchase price down to closer to $280,000 for this property to make sense with a 19% cash on cash and 8.9 cap rate. 

And the issue would still be I need the property to be rental so I can claim the expenses, but that brings me back to the problem of not being able to use the GoE with investment/rental properties.  

I offered to watch over the property while she is away in Aussie and make sure the tenant is all good, contingent on bringing a tenant in.So, I have a tenant and they are excited to move in soon.