@Nathan Vaughan There are many, many projects coming in San Diego that make use of the microunit ordinance - there are some big reasons they make more sense that traditional density bonuses, along with some important ways in which don't. 

With that said, he's never bought something this moldy and traditionally has just foregone insurance until the flip is complete. 

Traditional bank financing, 25% down.

Then when you have (some money) re-assess your situation.While work is slow in the car biz read Rich Dad Poor Dad.Good Luck!

This property is a cabin, but doesn't qualify for traditional lending, as it's a sort of tiny home /park model built on a chassis, however we would own the lot.The current owner states 2019 rents were about $10k (via VRBO, AirBnB, etc).

@Mercy Postema I assume you mean traditional lenders?

When refinancing with a traditional lender, I’m happy with anything in the 5-7% ballpark.

And if she was buying it with a traditional mortgage, then if it was me I'd want it structured similarly to a mortgage (meaning each month that I make a rent payment I would want some of that payment buying down the option price just as a portion of your payment on a mortgage buys down the principle owed).  

Speaking from personal experience, I wish somebody would have told me the following starting off:1) You're more than likely going to need to traditional banks.

You never know, you might just across a good deal through your network.As far as books go here are some of my favorite books (real estate and non real estate related):-Rich Dad Poor Dad (of course)-The Book on Real Estate Investing with Low and No Money Down-Finding and Funding Great Deals (I’m going through this one right now)Non Real Estate Related:-Principles by Ray Dalio-Relentless by Tim Grover-The Alchemist by Paulo Coelho (this is my all time favorite and read it twice a year)