I am currently a college student and I am trying to get my foot in the door. 

Josiah, I wouldn't touch this property with a 10 foot pole.  

There are quite a few (very small = 2 foot tall) pine trees all planted on the leech field in the front yard.4.

I recommend it because it is the easiest way to get a foot in the door. 

Well, that’s at least what they tell me about it, because again…I’ve never set foot inside of the home.The key to flipping houses you’ve never seen is all about surrounding yourself with a good team.

it's not self entitlement, its about footing the cost for the MLS, advertising licensing and everything else that gives you everyone else a bigger discount real estate market to "play in" IMHO.  

And Rehab Costs would be the cost to tear down and construct the new property, including all hard and soft costs that aren't factored into the Fixed Costs.For example, if I have a house that I can tear down and rebuild a 2000 sf property that would sell for $400K; it would cost $100/sf to tear down and rebuild; I'd have $50K in Fixed Costs; and I'd want a 20% profit on the resale price ($80K), my max purchase price for the tear down would be:MPP = $400K - $50K - $80K - $200K = $70KKeep in mind that the rehab costs must account for all of the following:- Site Planning- Zoning Approvals- Utility Installation- Permits/Impact Fees- Environmental Studies- Etc...If these costs aren't factored into the per-square-foot construction costs, you need to factor them in separately. 

When the build price for a property is $100 per square foot and you're buying 1200 sq ft for $20k, this is a market that is criminally underpriced.And it's a once in a lifetime market. 

Said he would reduce it to 50k (before he knew about the basement issue) Basement wall/footing needs replacement (quoted out at 17k) before any remodeling can occur.

We do a lot of work in flood zones and from what I've heard regarding "stilts"(we call them pilings) is you're looking at 20-30k extra over a traditional slab with a crawl space....Most of our footings are within a couple feet of sea level so we've never needed pilings but if you're indeed that deep you defintiely can't pour a footing on top of muck.....The other concern is flood insurance - the lower your first floor elevation the higher the flood insurance - I'd imagine if your first floor is under 10' the insurance would be astronomical.....your best bet is to talk to an engineer, get a survey, and go from there.