If you can't afford the required down payment and closing costs how are you going to afford any sort of repair, maintenance, vacancy or other unanticipated financial shortfall? 

If it's a larger organization, feel free to inquire about their different staff qualifications.2.

BP is having some sort of issue. 

Did you get a promotion where your job has you traveling 50% of the time leaving you unable to take care of the larger house?

Another option is to invest somewhere that family or friends live and pay them to be a sort of “project manager” while the property gets rent ready.

Should I have given them a larger credit?

If it's a larger organization, feel free to inquire about their different staff qualifications.2.

I can see them wanting to include some sort of housing costs. 

Some investors will pay $475,000, in auction the wholesalers will try to snatch it for $430,000 (There are all sort of reasons why this happens, maybe it was the last item at the auction and people used cash and bought other items, maybe somebody was a second too late and the auctioneer didnt get their bid - in NY the auction goes SUPER fast) so they buy it for $430,000 and give a check or cash for $43,000 (now they have contract) they reach out to everybody and offer the property for $450,000 so to the investor paying $475,000 $450,000 is a great deal. 

They are more expensive on handyman repairs, but very reasonable when it comes to larger items like water heater, HVAC, where they have connections and do not up-charge me.