Also, in the basement, our inspector found pipes coming from one of the foundation walls, which led him to believe that there could possibly be an underground storage tank.

We're under contract on a house that needs some minor foundation shimming and a complete replacement of cast iron pipes in said foundation.

Instead  they use 2- 2" PVC pipes. 

Mine is a little worse bc they want us to pay for 15000$ of pipe repairs from the shared pipe they use on our land and then want an easement to move it to a different spot to get to their own city sewer spot and not use ours.

Average rental price for units if i would rent is $667 each. 2nd home, 3br 1 ba Townhouse built 1965. aluminum siding, previously attached, now detached burned in fire 2003. completely remodeled after fire, previously had fireplace but deleted and closed shut. hardwood flooring living and dining area, new carpet in bedrooms, possibly need to redo sewage piping and minor. priced at 43,000, taxes roughly 2500 as well, tenant currently pays $830 rent. i appreciate the time to look and help, i have pictures and can get more info if requested for any mentors here, if anyone can assist with any guidance or info at all i would really appreciate that and learn as much as i can!!

I've been looking for 4 months now across the country, including in Midwestern markets I would have never dreamed to consider before and would be -very- lucky to break the 10% ROI (cash on cash, without speculative equity growth). 12-15% seems like a pipe dream in this market.

Now I am questioning if the waiting it out till exhaust the HAMP is worth it?

All meters already present, space for furnace already made.This work would include running black pipe, adding ductwork and returns, installing furnaces and AC unit and any other required plumbing. 

The work involved is remediation of mold in the bedroom,  new insulation and sheet rock the bed room, the water pipe has frozen, since the bank winterized the house later.

Yes, an exhaustive knowledge would be nice, but I was hoping that's what a professional forum like this could help me with.I don't feel it's fair to tell a person to exit the stage just because they're not 100% educated.