They are not dry or boring reading like a majority of most real estate books out there.

No, mostly safety-exposed electrical, trip hazards, properly functioning electrical/plumbing, etc. and wood rot, peeling paint(sometimes) functioning kitchen appliances (only if they are present-not required), etc.

The tenants made no attempt to help pick their wet belongings up so the company could dry out the carpet.

You may just have to wait for their patience to dry up.

The purchase price is $475,000 with 2 sets of washer/drying, stove, dishwasher, fridge.

Being self employed I'm not actively searching for another deal, but I'm keeping some dry powder just incase. 

I bought a gorgeous condo in a converted building - some shady developer put lipstick on a pig, it was leaking and rotting under that beautiful, freshly painted siding.

We will need to do the flooring, dry wall, build the baths and kitchens, everything.I have a few different options here I guess, wanted some feedback and possible guidance on some pros/cons. 1) I have been doing some research to try and find out how to possible get a HELOC on my rental property that I have now.

The listing agents usually know private investors and let them know first, before the ink on the listing agreement dries.

If the room/interior is going to have to wait to be repaired, my suggestion is to work on drying the area out.