They always seem like bad deals because I'm trying to parse ALL the things listed in Jay Scott's Book On Estimating Rehab Costs, and there's just no way to suffice all that info based off of a few pics and what an agent/wholesaler might say a property needs.

For a lot of other states, a Will will suffice, but that is generally not the case in California.  

How does $50,000 in transaction fees compare to renting for another few years until you can buy that second non-starter home that will suffice for longer?

Pictures and invoices could suffice, but seeing the work in-person would be better.

If you aren't doing any structural work (removing walls), in most places a decent hand-drawn floor plan, with electrical box/switch/light locations typically will suffice, maybe hand-rails etc for stairs, etc. 

@Ethan SpielvogelThere are several considerations that can go into the analysis of whether you need an LLC or whether a large insurance policy will suffice.

@John SeeligThere are several considerations that can go into the analysis of whether you need an LLC or whether a large insurance policy will suffice.

A simple reply will suffice: "I'm sorry but we don't rent to anyone unless they've viewed the property in person.

I don't want to get into the details of it but suffice to say, I bought a property, and about a week in we discover roaches and bed bugs. 

@Ryan WeimerThere are several considerations that can go into the analysis of whether you need an LLC or whether a large insurance policy will suffice.