You can see where an over worked, doesn't care, inspector taking 3 weeks to look at basically nothing,  costs serious cash. 

Save the money, clean it till it shines, maybe basic improvements like a few new light fixtures or at least matching/bright lightbulbs, maybe a few new faucets, some paint touch ups and sell.If you’re hiring a Realtor®, they can tell you pricing in current condition versus pricing with a few minor changes.

I'm completely new into real estate and only the extreme basics, but still a newbie.

But very unlikely with W2 income and a full time job.But this is an awesome concept as you could basically collect rental income for several years and never be taxed on it due to passive loss carryforwards if those build up. 

The barment & clear title is basically what @Rick Baggenstoss described.

IRC covers many of the basic of NEC. 

Basically why they did that was to deter investors from purchasing locally.

So Basically as mentioned by Metro Water, consulting with a Civil Engineer to get a quote to understand the projected cost of the project. 

Monopoly is the one I'd think of, but even sitting down with them and making your own game where they learn basic finances and budgeting (and how to do math) will put them ahead of most people. 

Zillow is the basic starting point if you are still struggling to find data.