I estimated the down payment with the closing fees would be around 12k and I could finalize saving that after I start my new job as a Project Engineer for a multifamily construction company next month.

(LLC vs not) the net income is estimated at around 8000.

I got a quote for the two projects and I just wanted to get your opinions if you think these are good estimates - high, low, or fair?

Adding  about 2.5% closing cost of 17.5k will bring you to about 50.5k (rough estimate) out of pocket. 

It uses both tools (Rentometer, BP rent estimate tool, and Zillow) to get price a start price and then specifies how to remove poor comps to adjust the tool price.  

All told, they estimate the project would create 2,600 construction jobs over the five-year period and 2,500 direct and 6,900 indirect jobs for Coos, Douglas and Lane Counties once the facility is constructed.

They're going to take a DSCR approach and we've found commercial lenders to be exceedingly more conservative on their estimates.

I agree with the local experts, it's not usually a big deal, but I've seen some pretty high estimates, but normally they're $500-2k jobs at most and they shouldn't hold up the deal, like James said, but the buyer will have to assume the violations if the seller is not fixing them before hand.

Obviously been a while since you've seen that house, but how much in repairs do you estimate for a place like that? 

They put a property up on the market, put the taxes, insurance, and utilities on there, subtract an estimate for the mortgage and then say this property is a "cash cow!"