Your statements sound very "guru like" which is most likley the reason fro getting such a harsh, but in this case, accurate post from MikeOH.ANYON can start out in rentals, but EVERYONE should get some knowledge and education on the matter FIRST.

This is the OP's first auction purchase, though, which seems especially harsh.  

The treatment quotes I got seemed crazy ($1500, using dogs, heaters, chemicals). 

Cleaning the surface of the fiber will make it look better and even make it smell better in most cases, but chemical application and subsurface extraction may be required to correct the issue.

Genny Li I don't want to be as harsh as Ian Barnes, but you might want to spend little more money than you are planning.It is getting harder to find cheaper houses where you want to buy houses.The ones you will find will need more updates than you are planning to do.For example, Painting Cabinets versus Replacing them is a good idea but also can keep your house vacant longer than it should be.There is competition in those neighborhoods.

We opted not to use a chemical stripper because we try to avoid chemicals as much as possible.  

Add in that colleges are pretty sheltered from the harsh realities of life already. 

There are some harsh realities for any property built on a barrier island.

I tell people the harsh realities they often dont want to hear.

What you see on TV compared to reality is very harsh!