If our unit would rent for $1,000, I would include this in the analysis (even if this covered the mortgage), to show what the true return of the property would be after we move out, correct?

I think the roof is good, but need to have another review.  

Thanks @Kyle Johnston sure the rent covers everything.

You can get bridge loans to cover the gap.

I've done 3 in the last few weeks on two properties covering over $80K in repairs.

So I covered everything up.I know your pain, and your husband's, Kathy.

I felt like that covered most contingencies, especially since I didn't have any mortgages.

The $50k should be enough to cover 20% down, closing costs and minor repairs with a small amount left.

Seems to me the only reason you should use the commercial lender at those rates are if the house will not qualify for a conventional loan (foundation, roof etc) or you have no extra money for the rehab.

I also have a roommate and between the two my mortgage is covered.