Gave me practical experience finding deals (and the tools & techniques involved), working with realtors, lawyers and banks, appraisals, inspections, insurance, property taxes, utilities, closings, HUD statements, etc.Owning a home gave me more practical experience in basic to moderate home repair, dealing with contractors for more complicated issues, capital improvements, insurance claims, "neighbor relations", and many more important aspects involved with owning property.But in addition to buying and owning my own home, I'll say what was equally important to giving me confidence to get started was having a few friends who were already doing what I wanted to do. 

Let's say the repair cost or make ready cost is $30,000. 

I'm not exaggerating when I say this property does not need any major repairs (at least obvious) or even paint touch ups.

6) Repairs.

I have entered estimates for repairs and will possibly begin an offer at $105K.Here is a link to the Google photo album of the interior of the house - https://photos.app.goo.gl/mMoCL5Erq4hcqAdP9The figure for Plumbing is for each bathroom (2 1/2) as a full remodel.The figure for Doors includes reframing with lumber and doors throughout the house and windows, which also includes drywall, mud and other appropriate items.The figure for Cabinets/Countertops is for an entirely new kitchen with appliances.I appreciate your feedback.

I agree to pay buyer closing cost and additional for minor repair.

For me, it was supposed to be for my dental business however for improvements, repairs, investments into equipment etc.But once given, they could not take it back so I could always use it for real estate.55K was offered, but, the rate was too high @ 10% and was on a 3 year amortization. 

The cost for doing the separating and for the repairs would be about $13,000. 

Can I use that warranty for the repairs/renovations of electrical, plumbing, and hvac repairs needed?

You might some money for repairs to get the property ready for for renting.Other option would be to find a partner that will help with the financing and split the income.