Many lenders are doing periodic occupancy checks and because the property is investment / Rental, if caught committing "Occupancy Fraud" the lender can call the note due, foreclose and the owner is out like the fat kid in 5th grade dodge ball!

You need to make sure you offer with a good amount of lease option money to the seller and be fair with your expectations or the minute they run a ridiculous scenario/ offer by their attorney or realtor, you're out like the fat kid in 5th grade dodge ball! 

You can use a different investor friendly realtor if yours is not making the grade, just verify if you signed an agreement with them.Good luck.

I guaranty if you were to battle anther realtor with a borrower/ buyer who was to do as I described above, 7 out of 10 times you would lose down here in FL  with that outdated strategy of "Poor Mouthing the Offer" with ridiculous Good Faith Deposit amount in escrow.If I were selling a 500k home, and an a buyer hit me with a 5k deposit, their offer would be out like the fat kid in 5th grade dodge ball!

IRS depreciation schedule for carpet is 5 years, and I find that is a good barometer for how long normal wear and tear is to replace normal grade carpet.

Even going with private money rolled to new permanent financing would open the door to many more properties and more options for contractors and scope  and grade of improvements.

I would upgrade a slummy looking kitchen or bath with builder grade materials or do tweaks to something old looking but in good condition (refinish a pink cast iron tub, use oil based paint to cover dated bath tile in good condition, paint good condition cabinets white and add new counters)

I didn't measure but by my photo probably not, but not a difficult fix.One side of the house needs minor grading, the rest is fine.

There plenty of other opportunities elsewhere, my clients are involved in institutional grade properties across the country.

You will make up for lost time if you pass with great grades and minimal student debt.