If Buyer chooses to seek financing, Buyer may do so at Buyer’s sole risk and expense by submitting a mortgage application to a mortgage lender or mortgage broker within five business days from the date of this Agreement, but the failure to apply for or secure financing in the amount or time or terms desired by Buyer shall not excuse Buyer from timely performance of all obligations under this Agreement.

Anything from painting, construction, flooring, demolition, helping set up an open house, anything RE related, etc that you can do/learn is another step toward a successful future.  

I am also a 6'4" 235lb. man, armed of course and let's just say very highly trained in defense (just painting the picture for you).

You get $30k from some random unacceptable source (friend who isn't family gifts it, drug money, Al Qaeda, sold a car or painting but didn't do any paperwork, you just walk into your bank with $30k cash and deposit it, it makes zero difference in the world, unacceptable is unacceptable).Your balance is $80k.You spend that $30k, doesn't matter on what.

@Shane Ward The OP is from the Philly area, so a legitimate alternative option to buying an STR in a market they aren't close to / familiar with would be taking those funds to buy an actual investment property, and using the cashflow to fund vacations indefinitely at whatever destination they choose (especially since they already rotate between 3 different vacation markets due to friends & family).

I simply can not see cashbuyers being desperate enough to CHOOSE to deal with foundation issues.

Any advice for how to go about choosing the home to buy as a first time fix and flip investor?

@Redha Laafia you can also talk to sub-contractors  and develop a price list for items like roofing, painting, kitchen and countertops, flooring etc. those are very easy items to standardize. 

I'm sure a lot of people do exactly what you are describing, but instead of renting all the units they choose to live in one and let the other tenants cover a part of their living expenses. 

If you choose to hire a PM it is your responsibility to manage that PM as you would manage your own business.