I'd say minimally you need to be able to come up with 30K from whatever sources you can to make it work and that's even at 100% financing.

Ways to minimize repairs? 

Think about issue you will come across with renting, what kind of creative ideas can you come up with to prevent/minimize the damage/work in a pro-active manner to prevent these issues. 

If you find something that minimizes your expenses and would cash flow once you moved out, I would look twice.

Since it was fairly organized, it had the effect of minimizing the amount of trash we had to have hauled away.

If you bought a home with a mil to househack, your bottom line would likely be better than it would with the minimal cashflow from the current property if you kept it.  

If I were to offer higher than asking price to lock down the deal, the only thing that would change expense-wise would be my P+I, but that would be minimal. 

If they don't require the drawings to be Certified by a Licensed Architect, you can find someone with drafting/design knowledge to draw the plans for you for your submittal; however, when the Building Department reviews the drawings they will still want to ensure the proposal meets local Building Codes & Ordinances, or if they are the type of department that doesn't do thorough reviews, they could be leaving the liability to You in order to ensure the construction is safe & complies with codes.As a Licensed Architect myself, I recommend you consider the benefits of hiring a licensed professional, even if the building department doesn't require Stamped drawings; however, I realize that depending on how minimal the scope of work is, it may not provide you much additional benefit compared to finding a decent drafter at a lower cost...You may want to check out Upwork.com as well, theres a lot of posts on there for various architectural & drafting gigs all around the world.

Just me personally but if you're in uncertain times I'd minimize my exposure on my primary (especially in FL where your primary residence is legally protected). 

How do I best protect my personal assets while minimizing set up/annual costs associated with the LLC?