BUT, this was a stale deal with strong broker relationship AND very uncommon.1% is the standard I hear. 

I have a bachelor's from ASU and am ready to utilize my knowledge of sustainability, management and international travel to build my dream. 

The CES is the gold standard when it comes to analyzing the job growth of a market.

You will need 20% down for a standard conventional loan.

You want to include the standard clauses.

FHA will not work typically with distressed properties and you will need to owner occupy it for at least a year.Refinancing depends on the lender.  80% or 75% LTV is pretty standard.  

The other are building standards.

There are many lenders that will fund 100% of the rehab with up to 90% of the purchase price without JV. 12% is not reasonable and 4 points are definitely not industry standard. 

This will also change the broker network you want to tap into, as your standard residential agents will frequently be listing smaller deals and commercial brokers larger deals.

I would suggest a person who has a track record to lean on seek portfolio lending, in that instance it is up to their internal policy for such and even then a deviation can be requested and they meet, discuss, and let you know.