It's my understanding that to deliver a 'marketable title', the seller must eliminate the liens.

You could eliminate the school part but still need a solid high paying job to support investing.

There are many ways to pay PMI:- LPMI - lender paid MI which is a fancy term for taking a bit higher rate to absorb the cost of monthly MI for the life of the mortgage, depending on your credit score it may take .125%- .50% more in rate to absorb your entire premium for the life of your loan- BPMI single premium- similar to the above it eliminates the monthly MI premium for the life of the loan but BP part of BPMI stands for "borrower paid," so as you might have guessed the borrower pays this premium in a cash sum at closing either from their own funds or seller concessions they've negotiated from a seller or a gift from their giftors -BPMI monthly or split premium - MI can also be paid as monthly MI which is the stereotypical way to pay MI and it can also be paid as a split premium or hybrid whereby the borrower pays a good chunk upfront to have a greatly reduced monthly MI payment.Most people take LPMI and absorb it through the rate via LPMI to eliminate MI for the life of the loan. 

Net zero is trying to completely eliminate energy payments or energy input.

Bad debt is bad debt and needs to be eliminated at the fastest rate possible.

Any blemishes might eliminate being able to rent in decent areas.

If you have questions about the process, I'm probably the best one to ask.The Land Bank was created to eliminate blight in the Kent County area and specifically Grand Rapids.  

The situation with this Seller could be allow you to eliminate the existing owner's monthly payments, create a home ownership opportunity for someone that didn't exist before and help you make some money all at the same time. 

Buying under an LLC will eliminate your ability to get an owner occupied loan, and also eliminate almost all 30 year loans, they will have a 5 year or so balloon.

Look for a property where you get:Equity when you buy itStrong cashflow (I shoot for $400+ per month)15% cash on cash returnThis will make it profitable and eliminate most of your risk.