These "oks" and offers were through email, so nothing is official just yet. 

Thanks again, I am so excited to finally officially be apart of this community!

I didn't go the "official" turnkey route, meaning I didn't buy the property from a turnkey company.

You were officially "out" of the lease at that point. 

They will likely want an official appraisal as part of their due diligence, so make sure your numbers are conservative.

Until you officially take ownership you have no authority to offer any changes.You need to spend time studying your state landlord tenant regulations.

HOA boards and government officials can be very irritating with ridiculous requirements. 

What to look for, where to look and any way that I can check the condition of the slab prior to an official inspection.We will check into the condition of the soil (Clay, Sand etc.) and any noticeable wear and tear on the outside but prior to inspection, are there any red flags I could look for myself or any questions to ask?

But $651 would not satisfy the loan and release the lien, as there is a prepayment penalty, and I have a faxed official pay off quote from them that's in the mid 700K's.The attorney who arranged the modification has not returned my calls, so I'm really not sure how the principal grew, but I'm guessing it is indeed a penalty, or related to the terrible terms of the mortgage.So indeed, if there was an overage, it would likely be a small amount of money.I appreciate your suggestion, but that would yield something like 10 - 20K, but I'm still pretty sure there is a way to net 200K - 400K if structured properly. 

Possibly say, hey, I can just do this project from A-Z with the right backing/funding behind me (Not really in the position to buy and invest in the materials, but may have access to the funds) and tackle my first official flip project?