I think that a good deal is one where the grass is over my knees and the house looks like it needs some love.

If you don't know much of anything about real estate, your best bet would be joint venture wholesaling.

Syndication, Joint Ventures, turnkey...Those all come to mind. 

Thanks Jon.I was thinking of having my wife get realtor license (she is home-maker currently) and then as we file jointly was thinking of doing that way to be able to use depreciation deduction from rental SFRs against my full-time W2 wage income.

Account ClosedPut together what we call a Land Joint Venture, or Land JV. 1.

$/bedroom, how many bathrooms usually, what distance away from the schools, etc...Do you mostly see the entire home be put up for rent where a group gets together and signs one joint lease(in my case, 4 parents/sponsors and their students)? 

Have had an annual income of $200,000 (or $300,000 for joint income) for the past two years, and expect to earn the same or higher income this year.OR2.

I understand we need an operating agreement, but should we have joint bank account, LLC, etc. 

Actually bad for their joints.

It's a reasonable request, otherwise the loan you seek (more than) 75% total project cost could be considered a joint venture scenario.