FHA will not work typically with distressed properties and you will need to owner occupy it for at least a year.Refinancing depends on the lender.  80% or 75% LTV is pretty standard.  

This happened at a refinancing I had when old liens were discovered and I didn't want to hold up the closing, but it was minor.

I believe this is what you want, however, I don’t think it will be your best option.Option 3: If everybody moves out and turn over keys by Sunday February 9th, then I will not come after any rent due and we can call it even.Option 4: You refuse to pay rent, forcing me to start eviction process as well as go to court for lost rent, late fees, and any damages discovered to the property.As long as they don't trash the unit, I don't really care too much as I plan on replacing all flooring and painting throughout interior anyway.

The other are building standards.

There are many lenders that will fund 100% of the rehab with up to 90% of the purchase price without JV. 12% is not reasonable and 4 points are definitely not industry standard. 

This will also change the broker network you want to tap into, as your standard residential agents will frequently be listing smaller deals and commercial brokers larger deals.

Standard institutional lending such as FHA, VA and so on, well I would first advise a person that those are not the best routes for financing in the investment real estate segment, I would argue they are the worst for a viable REI business.

I agree with you that SFRs are mostly a way to play with appreciation as whatever cash flow we think we’re getting is really not enough with all the sub-standard appliances and mechanicals that’s get put in the homes these days!

If you're getting a standard multi family loan requiring 25% down, and you're borrowing that 25%, then you're financing 100% and there is no equity. 

I'm going through this same process myself and here's what I've discovered on BP so far...If you have good credit and income, you can get traditional loans for your first property for as little as 3%.