If a reduction investors tend to make it temporary like 1 year and then tie percentage rent above XX sales to additional rent.

Some forms of sheathing create additional extensive repair costs/time because that sheathing may have to be replaced too.  

That's a span of time you can't even fathom at your age.2)  BUILD a SOLID FINANCIAL FOUNDATIONGet your credit score to >700 (there's a ton of info on how to build your credit anywhere on BP or Google)Obtain or continue earning W-2 income (this becomes important when you want to obtain a mortgage down the line)Pay down any bad (consumer) debt and don't pile on any additional bad debt.Start saving.

Washer and dryer might be a great addition.

Do you allow additions or outbuildings? 

Why is this additional?

Or alternatively if the owner walks away, and the bank decides to sell the NP'ing note ... does the insurance coverage convey with the note since the bank presumably required to be listed as additionally insured on the flood insurance policy (if the property was in the flood zone and one was required)?

@Mark SpritzWhile a Solo 401k may or may not be a better structure for you based on your situation, the additional benefits (beyond contribution limits and loans) include the following:-No custodial requirement-No need for LLC cost and admin to have checkbook control-Built in Roth-Spousal participation-UDFI exemptionsThe cost comparison depends on what providers you are looking at for each.

That is in addition to your rehab budget.

The price point is higher than our ideal range, and I needed his support to help reduce my fears.