There's reward in distress, but if you don't have the time $$ or energy for that, then looking via a RE agent for MLS properties that only need $10k worth of rehab is the way to go! 

The real rock-star agents are going to get those, and if they fumble it, it's going to be bad. 

While it's disgusting that "people" are doing this, I don't think I'd want to give them so much energy and time. 

It is definitely possible to get a fix & flip/hold purchase loan on something like this but on a conversion such as this one you will definitely need a contractor or some subs for the experience factor and all-star credit so lender can feel confident that the project can be completed.

About a month later (early March), the seller provided screenshots of the amount due for each bill but not the full utility bills that would have detailed the energy usage.

I dont think the terms allow me to post a link but here are some basics.Has been occupied avg of 17 days per month since Sept.managed by a top tier company and has 4.8 star avg reviews.Also would be a good family home (large private lot, fenced yard, hot tub).It has the benefit of being near Austin downtown, but NOT in Austin city limits (9 miles to city center), so lower taxes and no STR rules (default to Travis County rules).I have read the forum posts for similar situations, however every market is different. 

You're asking someone to spend a lot of time and energy to share what they've spent years - maybe decades - learning and developing.

May need a few bids on structural unless they have rock star reference.

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That guy is a total rock star investor.