Worst case (by my math) if I get the property at 105-110k, with the hard money interest rate (and using the 50% rule) the cash flow will be somewhat small until I refinance into a conventional.

also how can the LTV be 60% but then the down payment be 30%, that math doesn't add up?

I think you have to look at the math.

Without easy lender money, that game will never happen again.There's also a math problem.

The math and the logistics of managing apartments are very different than an sfr though.

I certainly have my homework cut out.

Using just rough math the mortgage on that property with your down payment will be around $659.00 + HOA = $919.00 a month. 1800 x 0.5= $900.00.

I have not bought a property with owner financing, so I might be doing the math wrong.

That's not impossible or a crazy idea, but there is some homework in order for you to set yourself up for success.Get the book, The Millionaire Real Estate Investor by Gary Keller and read the whole thing.

Keep doing your homework looking at comps; the type of client your looking to sell to, recent sales, the costs to do each option, rate of return for each option, how quick you can sell it now vs. when your renovations are complete, cost and headache to do each option etc.