If the property is that cheap, just actually buy it, then resell.

We are going forward as of right now because we have a $0 lot cost due getting a great deal on the house and being able.to resell it with less land for more than we bought it for.

@Lyndsey Whiteaker, If your intent is primarily to resell (flip) you'll actually pay ordinary income tax state and federal which will probably include Self employment tax and the Affordable Health Care Act premium depending on your entity structure.  

What's the best retail resell value play for the Bathroom scenario below?

If this property is a dime a dozen then plenty of other ones to offer on to try and get your price.If you are a rehabber and reseller you will have a tougher time competing against buy and hold investors and home buyers who can pay more and do not have immediate resale costs.

We've looked at all the data resellers on probate records, and we haven't found one with enough quality, reliability and coverage are to meet our standards for adding them to our product.

I like simple payment notes no monthly payments five years in the future another possibility is a joint venture with the seller, were you give a note for Equity ,  Georgia joint venture fee,Figure ten per cent  for resale Use a private lender for the rehab  Buy it on a note,  Fix it, then resell it and pay off the note, pocket $20,000

If you don't mind the hassle of craigslist or your local want-ad papers, you can also re-sell many tools for not too far from what they cost new, if you want to "own" them long enough to do a one-off job.

Be very careful on properties that were value add type deals where a seller is reselling where they bought REO, short sale, etc.

My perception is that it is somewhat less risky for a rehab because your intent is to resell at the end of the work, thereby paying off the HML lender.