The MLO could potentially offer seller concessions to help the buyer as well but it cannot be stated the buyer MUST use the seller’s firm for lending. 

After meeting with the seller, I realized he didn't need the proceeds right away, and saw the potential for an Novation.

I am getting 6 extra windows at no cost including 2 transom windows in the bathrooms that really provide an higher quality feel and increase one of the main areas that tenants and potential buyers really care about (Bathrooms & Kitchens).

This strategy allows you to potentially make a quick profit without the commitment of having to live in the property for a certain period of time.Alternatively, you could also look into investing in rental properties in different cities where you have connections or where you see potential for growth.

Reverse engineering from your desired income to today's steps, like calculating the number of properties to purchase each year, is a practical strategy.

These properties have the potential to generate a total rental income of $8,700 monthly.

May have been a simple 1-time poor cleaning job.Lot of potential causes.So I’d show the cleaning rep the pictures.

Furthermore, the long term appreciation potential of a property is just as important as the cash flow.

Qualifying for the lowest rate possible and putting a large down payment are a couple of ways to navigate the potential ratio issue and get closer to the number you need to make it work. 

However, because you are planning on doing reno, you could potentially qualify for a refinance.