I understand all the jobs are done inside so City won't discover it when the work is being conducted, but since I plan to hold this property as rental for a  while and eventually I will sell it.

When my husband and I discovered it in the back yard, the tenant claimed she was watching it for a friend, despite the doghouse in the yard and the 50 pound sack of food in the kitchen.

This costs money  There may be additional liens and other title flaws attached to this property in which case you will need a lawyer to perform a "quiet title".3) Time.  

Unfortunately once they were evicted we discovered that our tax bill went up a few years ago because our tenants stopped paying their water, trash, and sewage bills!  

House-hacking can be a great way to dip your toes in the landlording business, without jumping in whole hog to discover you hate it.

If you think you will go FHA, 203k, etc. and then Quit Claim the property, to a LLC, or a Land Trust you run the risk of the lender discovering a Title Transfer occurred and activating the "Acceleration Clause" or "Due on Sale Clause" that requires the loan to be paid in full, within 'x' number of days.

Welcome @Timothy Evan Drummond, as you've probably discovered there is a wealth of knowledge on this forum to soak up.

Savannah market has been discovered, so good deals go fast. 

If you compare to looking at houses with a real estate agent, they'll always want you to get Pre-Approved first ... to be sure you'll have the financing you need when you find a property you want to buy.While hard money is similar, as you've already discovered, it can be a bit trickier to get a clear rate quote without the specific property already in mind (and ideally, under contract).I'd recommend talking to your potential lender(s) BEFORE you spend too much effort shopping around. 

A student who works with a mentor who specializes in flipping, may discover that they don’t like that type of investing.