The creativity I think you could bring to this is simply avoiding expensive interior remodeling - just find a cheap space, fill it up with thrift-shop desks, get the very best internet (don't skimp on that :), and rent desks cheap!

Oh another trick, best of both worlds: plan the unit so you can access it from an internal staircase from the main house.

I've read through every response and internalized many of the principles that you all have spoken about. 

Is touch up painting of the interior of the house something that I should have to pay for or should this come out of the security deposit? 

Hot water heater, paint exterior and interior, etc. need to be budgeted.

Intern with a wholesaler.

A lot of international people from Asia and Europe, who had money, would pay the whole year up front, to get the place they desired.

I am unsure on the interior condition of these units, but there is likely the ability to update and build equity.

There's HML's who do two tiered lending - initially to purchase and rehab for 6-12 month terms (10-12% interest) and then refi it internally into a long term product (6-8% interest).

I'm looking at a property that has sunken floor in the middle of the house to the point where it has separated from the interior walls.