Used Google Sheets and the PMT function to calculate the below assumptions:Monthly NOI: $1,586.60Divided by 1.25: $1,269.28 paymentLoan Value: $164,453.66Downpayment: $54,817.89Price: $219,271.54I know the owner of this property and doubt they'll sell it for less than $600,000, so it's not going to happen. 

Good for you @Michael Vacha, you have a clear goal which will make it more attainable.For your goal, I believe that a combination of flipping and BRRRRing/long-term holding will get you there.

Kitchens get expensive quickly, even when you’re trying to stay “budget.”If you sell at $250k, make sure you’re backing out:Agent commissionsSeller closing costsHolding costs (insurance, taxes, utilities)Contingency costFor a first deal, I’d either:-Increase the rehab budget and aim for a stronger resale price, or-Treat this as a wholetail — fix safety and functionality, clean it up well, price it right, and protect your downside.Venice is a solid market, just make sure the numbers work on paper before you commit.

System Controls and Thermostat Check: Verify proper functioning of controls and thermostat for accurate operation.

The discount on the notes in question is likely due to a combination of low downpayment from the borrower, leverage being too high, the relatively low seasoning, subprime borrowers, and the property type (mobile homes).Most note holders dont want to be over 70-75% ITV on SFRs with good borrowers.

The renovation focused on improving functionality, aesthetics, and overall market appeal.

If I combine the 2 fees together it was below 5% ($15k each (total $30k) for $640k purchase)4) it is easier to find decent investments than it is to get capital to take advantage of the various opportunities.5) the “little touch ups” and repairs is not worth much as described but I suspect will be more than OP is expecting.  

I just don't like the functionality of the Schlage.

Their diligence barely scratched the surface, and their entire business plan was held together by assumptions that had nothing to do with how those markets or asset class functions.

A will be cheapest, C will be the most expensive and thorough, and B will be a healthy combination of the two.”INCENTIVIZING CONTRACTORSPeople respond more strongly to the removal of adverse stimuli than they do to the addition of pleasant stimuli.