My ultimate goal would be to be able to buy this property, rehab a little so that is appraises where I have 20-30% equity where I can rent it out for 1450 and cash flow $300 monthly with as little cash outlay as possible.So here are a few ways to purchase that I thought of.

So, I've been using my savings to survive (which was originally meant for starting my first investment).

You can certainly change your future intent and ultimately move into the property, as long as your initial intent was to acquire and hold for rental, investment or business use.

It's the ultimate title cleaning action from what I understand.  

Real opportunity exists in the future developing areas and if you invest carefully and don't over extend yourself, you could probably survive a downturn.

Ultimately I will be consulting a CPA once I network with one this week, just wondering your thoughts.Kenneth

If you allow it, BP can be the ultimate resource in your pursuit of success in your real estate endeavors.

You'll survive and prosper if you get tenants that will pay.  

I'm looking for a General Contractor who is willing to walk properties (I realize there may be a fee), provide a decent estimate of costs, and ultimately perform/coordinate most of the rehab work.

BP Podcasts are incredibly helpful.There are also many helpful books about the topic, you can find more at biggerpockets.com/books such as UBG (ultimate beginners guide).