I want to know if any has experience offering law enforcement, govt employees, etc. a discount on rent, or perhaps having a program where you let them live rent free (assuming a larger complex of course).

Just some general numbers that I can put some additional figures to develop a profit plan.

Partner puts up $5k initially and gets a $1k/week draw against his profit share.

In my area in the Great Recession larger homes did take a down turn in rental rates and some other less populated areas for sure has to slash there rentals rates.

Instead of simply wholesaling the property can you JV & split the profit evenly?

Finally if you go for a STR I would be sure to have one or two great exit strategies meaning you can rent it long term and at least break even, or you can sell for a small profit. 

Roofers, particularly larger contractors, will often reduce prices in the winter to keep their crews working. 

Assuming larger capex and maintenance costs.I have access to hard money cash for a purchase and renovation of the property—about $196k of an outlay.  

Rural street with massive lots already has handful of remodels with some listing close to $1M ARV.From BP flip calculator:$900,000.00 After Repair Value ($460,000 List Price $200,000.00 Rehab Budget $150,000.00 Profit Estimated Repairs Total: $200,000.00Could use input on overall deal, as well as typical $cost/ft to add a second floor to bring total to roughly 3,000 sq ft. with a 2nd floor master and bath, perhaps an office or extra BR upstairs as well.

If Not You Can Negotiate The 2nd And Sell as is for a profit.