As in, is there any degree of fudging that's possible like claiming electrical and mechanics were already in place and there was only drywall work done?

There could be 2nd mortgages, mechanics liens etc.

.- Educate yourself regarding capital expense items such as roofs, mechanical's, etc.

One thing that can help you determine what you're getting into is having a core sample taken of the property. it will tell you soil type, groundwater and rock depth. if some rocks are big enough you might need controlled blasting. if your basement is below the stream bed grade wise, you would likely have to be pumping water 24/7 during the construction part. im not sure how well a poured concrete wall with the waterproofing on the outside will stand up to the water, but of course it would be better than a block basement. builders would reccomend under drains to drain the water. the best way to do this is mechanically, without a pump or you could still wind up pumping water 24/7 after construction is complete.

Meaning the house looks good from the moment you pull up: Siding is good, good roof, nice yard/landscaping, etc.Also, check your mechanicals.

I would JV with her, do the work, secure the debt of rehab w a mechanic's lien, have an option to buy x% of equity for $10 plus services rendered as consideration, record the option, sell the house, make a profit, win win.

Age of property is approximately 50 years and I wasn't provided mechanicals age.

A mechanic's lien will be hard to get release if it is a file until it is paid.

My purpose is to make it so my business accommodates my real estate ventures, much like a professional mechanic may be more proficient at buying and selling cars than your average investor.

Mechanic's liens, past due child support, judgments due the state or fines may have priority over the perfected security interest of any creditor in any forced sale.A lien does not transfer ownership, the basis for calling a mortgage or note due is not so much arising from the "due-on-sale" clause, it is a violation of the mortgage or note terms of keeping title free of encumbrances or in keeping debts created paid as agreed as such matters clouds title.