Buy with private money.

You have promised the lender that the money is secured by real estate.

If the surrounding area has a lot of tear down and rebuild or there’s no inexpensive way to renovate to make it more functional, likely not worth sinking much more money into it if most future buyers will just prefer to tear it down.

I try to copy the type of structure thats working (changing the elevation) and use those as comps when I go to use a DSCR loan on the back end to pull money backend.Knowing what strategy you are going for would help me direct in a more accurate way.

If you rent by the room, you should be able to save money for the next place or sell it.  

That is a lot of money to only make 200-300 dollars a month.  

If I'm using Google AI, result is not that good: A capital call, also known as a draw down, is when a real estate investment fund or partnership asks investors for more money to cover expenses.

Typically, the seller wants it done fast and cheap, which often does not equate to the quality you would look for as the owner.But, it is possible he wants to do the work because he has top quality contractors that will do the work well and for less money than you could yourself.  

Is it worth fixing up (all properties should be fixed up before moving on to another to avoid repair costs later when you have more leverage) or is it worth selling in an imperfect state for less money (and harder with a tenant).

The goal is to make money.