If it is a contractor that is more organized they will likely do this already, if they are shooting from the hip "based on experience" they will likely just give you a total $ value. 

We are willing to spend up to 500,000.

You might "lose" money on cashflow but you keep an asset that will hopefully appreciate in value and you get several benefits other than just appreciation. 

@Marc ZakThere are several considerations that can go into the analysis of whether you need an LLC or whether a large insurance policy will suffice.

If they’ve been around forever but only manage 50 doors, that’s a sign they aren’t growing for a reason.Good PMs are worth their weight in gold, but a bad one will wreck your investment.

I am particularly interested in:Understanding the fundamentals of wholesalingNavigating Texas-specific real estate laws and regulationsBuilding a strong network of cash buyers and motivated sellersLearning effective marketing strategiesAnalyzing and evaluating dealsIf anyone is willing to share their experiences, tips, or resources, I would greatly appreciate it.

Finding a condo that allows Airbnb/STR will be challenging, they're rare and cost more because of it. 

Structurally, the property is in pretty good shape EXCEPT one problem that I cannot properly assess: the plumbing will not hold pressure.

I doubt it will get worse. 

It was on the market for a long time because it didn't qualify for conventional financing will it being unlivable.