The seller called me to see what was going on and I explained to him that his attorney was greener than a Jets fan and probably never completed this type of deal before.

If it's just "paneling", chepa material with a finish over it, you can just primer it, fill in the "gaps" and then texture and paint it.

I also like the lack of noise, and having minimalist light countertops with a more textured kitchen tile.

Also, if we do one layer of drywall currently and find out later we want to add more, is it okay to have another layer added with green glue to the previously finished and textured layer?

Keep in mind your LLC name could be named "Jet LLC".   

I finished the drywall myself in my basement, and did the mud, tape and texture. 

I went inside and took some measurements and also a closer look at some of the repair… All of the trim needs repainted throughout the house and about 1" of wall above all of the trim needs to be textured and repainted.

The floors were extremely unleveled and the new flooring was already coming apart, in one unit a previous landlord spray textured over every surface of the property including the thermostat/door knobs/trim, in both units the kitchen and bathrooms were falling apart and barely above usable condition, the staircase in one unit was obviously illegal it was so steep, and the walls/ceilings in both units were a mixture of poorly cobbled together panels, cracked lathe & plaster, suspended ceilings that should have been replaced a decade ago, and entire surfaces made from something I couldn't determine.  

Although I did not take @Julie Kern's full advice on reducing the rehab, I did reduce our scope of work a lot so that hopefully we do not overdo it.Scope:New flooring - laminate downstairs, carpet upstairsNew kitchens & bathrooms - complete gutsNew RoofElectrical work to remove wallNew Privacy FenceSmall things I plan on doing myself:LandscapingPaintWhite wash fireplaceOne thing that is giving me anxiety is the house has those stupid textured ceilings :)  that are harder to get off than normal popcorn ceilings.

Buyer has accepted but contract not yet fully executed, as many know the way FNMA works is you make the offer, they give you a verbal acknowledgement, then you have 5 days to "formalize" your offer with their REO addendum, then they turn around and execute the contract.This home has some high end stainless steel kitchen appliances, Supra washer dryer combos (two of them), Dorn Bracht faucets, brand new air conditioning units for outside Gazebos, steam shower body jet roman tub modular units, Miele dishwasher, 48" long SS outside BBQ unit, etc etc etc...and because the home was never 100% finished, some of those appliances were not hooked up or installed, they sort of sat in their space but some still had styrofoam wraps around them or manuals taped over them.So, I listed all those in my contract to purchase, where you typically list included items, like ceiling fans, window treatment blah blah blah.The Listing Agent wiped all that out.