I am 68 yrs old (semi-retired).  

After the demo, there really is not much you can do to save outside of thinking outside the box on fixing whatever that might be that has come up. 

We are retired and I have to convince my wife.    

It can also be an opportunity to discuss house rules and expectations to ensure you're on the same page.While being cost-conscious is understandable, investing a little upfront for proper screening can save you a lot of trouble in the long run.

.: Quote from @Theresa Harris: For your first question, how much will it save you on insurance and how likely are you to make a claim?  

Each property is different, however an engineered cost segregation study typically takes about 4-6 weeks to complete in order to ensure a quality cost segregation study.HOW MUCH MONEY CAN A COST SEGREGATION STUDY SAVE ME?

For each property, I have a few accounts including a high interest earning savings account for reserves within the platform.

You are already paying rent, so pay it to yourself to increase cash flow and accelerate savings for the next investment. 

Save...it takes a lot more money than most new investors believe (don't drink the Kool-aid that you can get in cheap) and residing outside the US will be seen as a substantial risk to most lenders which will limit your financing options. 

Going direct saves you and the seller money, giving you a lower cost to entry which helps all your numbers, but you have to put in the extra work to find that deal.