depends on how involved you want to be.

Depending on who your IRA is with, we have seen them approved same day, thank you Quest IRA.

If that happens, you made over $50k more on that house in 3 years (or more depending on appreciation %) Everyone wins 

Him not following the swimming pool guidelines alone and causing you un necessary repair costs should be grounds to evict him, but again depends on what your lease saids are possible consequences and your state laws are. 

The average rents that I have seen for either a 2 bed or 3 bed row/town house has been anywhere from $900-1200 depending on the cosmetic upgrades and features (i.e. garage, outdoor space, etc). 

The total, depending on if September rent is included, will be between $10k and $18k. 

Your outcome will depend on the lending climate and the area.

There are definitely much cheaper properties on the North side so maybe you'll get a bargain if the North side ever becomes fashionable.

Depending on how it works out, perhaps I can structure the agreement in a way so that I can be apart of the process and get some experience. 

If you are able to get the property, private lending would be a good option for the renovations, depending on the plan to get the cash back.