However, when i reach out to mortage lenders, they ask to see the price of the property im purchasing!!!

Then the lender told us because of her student loan debt, we would have to lump it all together.

But the fastest why to close ANY loan is to give the lender the documents they ask for immediately, no excuses.When an investor asks me (which is everyday) how quick can you close? 

Do lenders allow us to use their funds without charging us?

If not, how much time do I have to secure a private lender/mortgage after I make an offer? 

Maybe more.So between down payment, closing costs and repairs, I'd have to front somewhere around $50K - $60K, which I don't have.The strategy that I am considering is finding a hard money lender for this initial costs, with the idea that I pay back all at once when I refinance.On paper, it seems a good prospect for which may be worth to due a solid due diligence but I want to make sure my strategy is entirely doable and be aware of the risks I have to keep in mind. 

If it ain't broke, don't fix it...but plan on fixing it in the next 5-yearsIf your ARV is only $315k, you have little equity unless you are accelerating debt paydown somehow.You will have lender fees.

This is also a small private college town, so there’s no shortage of tenants now or in the foreseeable future.

Lenders do not like to finance dark stores so usually all cash purchases.

Look into hard money lenders, and find those value add deals.