If you can get a hard money lender to work with you they are going to require a down payment since you don’t have the experience and if you miss estimate or make any mistakes you will have to come out of pocket to finish the project.Hard money is very expensive and can eat your profits up very quickly if you don’t know what you’re doing.

My concern is just finding a mortgage broker that would work with them through the lease period so they can qualify on getting a loan at the end of the agreement. my mistake.

The numbers look great to me, and it looks like you've used some really conservative inputs (eg. 10% vacancy is pretty high, but better to be high than too low).The biggest mistakes new investors make are not knowing the local area, and not knowing the repairs costs/work invoved.

You can overcome pretty much any mistake you might make in real estate but you can't overcome buying in the wrong area.

Numbers may look good on a spreadsheet, but if you don’t understand the intricacies of a market, you could make a fatal mistake in your analysis.  

A mentor is not required, but they provide a quick start to how it is done and avoidance of the mistakes you don't want to make. 1.

Hard money Is very expensive, you will need a down payment if you’re just starting out and you need reserves to pay for your mistakes and cost overruns.

I think you'd be surprised how well people are drawn into others who are out there doing what they do, making mistakes and being honest about their journey.

I did my first major drywall job and looking back my BIGGEST mistake was not taking down ALL the original drywall in the kitchen. 

It is very frustrating, I was wondering if there's been some kind of mistake made somewhere and if anyone had any experience with something like this.