If my verbal offer is entertained, then I would contact my agent to have her set up a showing and make a formal offer.Is this reasonable?

If this is for personal use then I'm not sure I'd entertain this idea.

Things like accessibility, entertainment, lifestyle, surrounding road/property conditions make the southern part of the island low on my list.

Get the offer accepted (seller needs to sign on the line which is dotted) and it will be a LOT easier to get lenders to entertain it. 

For example, I have a client who lives in Franklin, TN and purchased a second home downtown Nashville, TN with the intention of using it when conducting business downtown, entertaining clients, etc...  

You could see if your landlord would be willing to entertain a bid from someone that you found that is a licensed contractor in your state.Is the replacement assessment based on what the repair person stated, or just what the landlord wants? 

You could entertain refinancing to a shorter term loan. 

Spend your money on built in bunk beds, a garage conversion to make it a 4 bed (we find 4 beds perform much better than 3 beds), and your entertainment spaces (living room, game room and backyard). 

The rehabs also do not provide me the same sense of accomplishment/entertainment as they once did which is also why this may be my last project as GC    I plan on using a GC next time but have zero regrets having been the GC on numerous efforts.  

I inherited my father's home and am entertaining someone who has cash offer for the house.