We are renting the home as a Padsplit with a total of 5 beds and 2 baths. 

I actually just sold an older property because there were too many repairs, so I was hoping to find something more hands off as I am an out of state investor. 

In fact, they stated that the total amount “covers the charge of the replacement purchase and labor to install it under one price.”

Point is, by your own statement you already have the best resource available, at hand, to answer all of this, and then some. 

The reason the property hasn’t sold is because the wholesaler made a mistake in valuation - hey, IT HAPPENS.Look, I don’t want to be totally discouraging.

On one hand, I feel that it is a great property and a great time to buy while competition is low.

My favorite way to collect rent, bar none, is still waiting on my porch for my tenants go come by and hand me wads of cash.

Don't use napkin math 'rules' to make investing decisions on.I hate the 1% rule, for the same reasons I hated the 2% rule a handful of years ago. 

They also leave a communal bottle of hand soap. 

We bought it with a HELOC on my mom's primary residence for the first $40k, then hired a contractor for demolition and major renovations, did cosmetics ourselves and used more heloc money totaling $60,000. 1 year later we listed it on VRBO and AIRBNB and refinanced the $100000 into a fixed rate mortgage.