Anyone know what this could be worth with a simple cosmetic renovation?

I think you need a little more education and a mindset shift.Real estate investing is a fairly simple process.

After receiving these funds, he and his partner has completely disappeared, leaving us with no communication or updates for over 2.5 years.

This gave many the false sense that real estate is simple but its not.

Here is my simple wording.  

It has all been around for a long time.This is plain and simple buy cheap and owner finance to someone else for more.

Anything that seems too good to be true is, plain and simple.

I put a simple CMA report in a Google sheet if you want to take a look. 

Obviously, you pass this cost on to your borrower.My experience with Lightning Docs is that they will answer simple questions at no charge. 

I keep thinking about tools that can help me reduce risk by catching errors or red flags in seller disclosures and inspection docs, but that's likely because I've had a bad experiences with both.A simple and obvious example is a seller checking "No" for pests section, such as Scorpions and Snakes in Arizona when the property is in the desert, so obviously, there will be snakes and scorpions.