No need to highlight that I never should have signed--I am aware and there is a HUGE back story as to why I did that is not significant to the question at hand.Due to frequent flooding, we were planning to have an overhead sewer line installed, as well as a sump pit for the basement plumbing, an ejector pit for the upstairs/exterior water that was leading to the flooding, and tying in the downspouts to the mainline at the front exterior of the house underground.The project, which was estimated to last about 15-20 days, took more like 10-11 full days.

That is a Redflag 1.Without knowing the condition of roof, plumbing, exterior, foundation I question if 5% ex (,$400)  is adequate.

But we also raise renovation budget before closing on the deal and aggressively renovate interior and exteriors.

Some contractors may help you draft that.Don't forget exterior improvements to soften it so it doesn't look like a converted motel.Let's say you do that and the average bid is $200k.

I also, can continue the eviction if the bank doesn't carry it out.4 bed 3 bath 2400 sqft with over an acre of landpurchase around $205k  ARV of $360-400k with an estimated reno cost of $50k The Unknown:for being an REO Occupied property, there are no interior pictures so I was only able to see the one picture of the exterior of the home (luckily enough I live a mere 15 minutes away and can check the exterior and neighborhood better)Connecticut has a crumbling foundation issue with many homes (crossing my fingers but also researched a little bit to make myself feel better)How much reno will be needed? 

And of course your area may be different in terms of cost and also some jobs don't require a full cosmetic renovation, but most of mine have.Then of course check the big ticket items like HVAC, roof, exterior siding/masonry repair, windows, interior sheetrock replacement, foundation and water heater and know approximately what it will cost to fix/replace each if warranted.  

I like this niche because it limits my risk on several major expenses - exterior and roof.

Ideally, I would like to work with a company which does both interior and exterior.

Most yard work is just sweaty.Repiping the house, new electric panel and service, foundation retrofitting, HVAC repair, pouring a new driveway, tree work, exterior paint.

You should do an annual inspection to check that the house is being kept up and a drive would not hurt to check the exterior.