It sounds like you've experienced the dilemma a lot of us do - that what you do to pay less in taxes (reduce income, accelerate/increase expenses) ends up hurting you when it comes time to apply for a loan.The good news is that if you own your own business and know you want to start usingou bank loans, you can start making yourself look better by increasing your salary, etc.Once you feel more comfortable with RE investing you also definitely might benefit from looking into a Solo 401(k) - but I almost hesitate to mention it because at this point it could just complicate your life and distract you from learning more about RE.

If you don't feel comfortable with disclosing everything, at least the cost of repairs can give a general idea of what to expect.Thank you again and good luck. 

Cash flow & the appraisal are key, but the commercial financing institution will need to be very comfortable with the sponsor (i.e. you). 

One family even told me they were having money problems after the birth of a child and the loss of a job. 

There was a motivational speaker yelling about getting into the right mind set and stepping out of your comfort zone.

Yet many probate offices do get involved with Childrens Services even though State Child services agencies depending on what your state calls them are involved also .

Is this a deal you would feel comfortable going for?

It's a risk that you have to consider and you may or may not be comfortable with it.  

I personally think Four by Four is a really good rental neighborhood with good proximity but if you don't feel comfortable going there then don't buy anything there.

Again these all would need MUCH MORE extensive research and specifics on your comfort level for risk.