I exercise four days a week for 45 minutes.”Currently, I actually weigh 219 pounds- that’s a big Joey.Notice I’m telling myself I’m 29 pounds lighter.

Applying stock market analysis of Convergence/Divergence [which may or may not be the correct application of such for this exercise] suggests that when a divergence of this nature happens, decrease in the underlying asset is soon to follow.

For the most part, it's a not if but when exercise, where it's important to know projected costs for big ticket items then setting aside each month for that proverbial rainy day. 

Our son came with us, who is becoming more and more interested in real estate, although he just graduated with a bachelors degree in Exercise Science and is interning with the local university.

Does this person just exercise their option to walk away from the deal because of some contingency?

if they help you move the property you would split the profits with them.going through this exercise will also give you feedback on whether or not you really do have a great deal.if you need more help feel free to PM me....

This is really a budgeting exercise to understand what I can comfortably afford.  

Call or knock on their door - offer them some options to solve their problem - get a loan - raise $ to pay their taxes - a joint venture or sell their home to you or sell to you with an option to buy back while remaining in their house as a tenant until they can exercise their option to regain ownership of their home - you create a great return by paying their taxes. 

And even if at the end of the option you don't sell it (or exercise your option to buy), they had their mortgage paid down, their credit scores kept or improved, prop not destroyed, and they got it back with equity.

Now back to the real, or at least more consistent world: drywall costs vary as to the unique nature of each job location, therefore comparing estimates without details is an exercise in futility.