Or maybe another option which I haven’t considered which could be a good fit for my situation Thanks. 

I recommend analyzing the Internal Rate of Return (IRR), which takes into account all the ways a property can make money over time, how long you plan to own it, and compares it to other potential investments.There's a lot on BP about IRR.Cashflow positive isn't a must in every deal, as long as it fits your investing strategy.

Almost invariably, the ideal answer is: you want to BUY your own home first. ie. 203K loan! 

For example: Investor contributed 10,000, and will receive 11,000 as a lump sum after sale of the property, plus any interest at 9% APR if sale is more than 90 days after date of lending.To note: I looked in the BP file center and couldn't find anything that fit the bill.Thank you,Julius

Current tenant is a gem of a person, but in general, yes, I agree it isn't ideal. 

You’d have to fit suitability requirements but once it liquidates, you can take the funds and do another 1031 back into a property that you can actively manage.

I see the formula now:ARV $XXLess Profit (20% ARV) $XXLess Close (10%ARV) $XXLess Repair $XX=MAO $XX.Then can always add in 'purchase costs' (eg cost of money etc) for greater accuracy, and adjust the percentages to fit. 

So basically you find a property that you believe fits your model, you run the numbers, you make your offer ... and then during the study period you discover something that just makes the deal untenable.

I am ideally looking for a tried and true contractor who has experience working with fix and flip investors and can complete renovations reasonably quickly.  

Ideally, my list would meet the following criteria:Property built after 1980Last sale on or before 2014Property is 20,000 - 80,000 squarefeetBuilding is multi-tenant (vs single tenant)Owner of the building (or LLC) is an individual or couple in their 70's or olderMy question is primarily about finding the last 3 bullet points, ESPECIALLY the tenancy (multi vs single).