Start anywhere—offer to assist, intern, whatever it takes—and absorb as much knowledge as you can.

Should I continue to pursue the original house deal by deducting their estimated repairs?

After repair value: 7.

In total, including money lost from rent, legal fees, and repairs, the situation cost almost $30k.

However, we will likely need a property manager to assist with some facets of running this rental (since we would not live locally) and would primarily market it through platforms such as Airbnb and VRBO to start, (eventually setting up a direct booking process).Here's our question for those who have experience in STR's or who might be involved in a similar scenario: How challenging is it to meet the material participation hours needed to achieve active status?

I am a local realtor in the Boone, Blowing Rock, Banner Elk area and would love to help out if you need any assistance.

Even if they don't realize how much money you're costing them now, someone will tell them eventually and I don't think your canned wholesaling response is going to do much to repair the damage. 

SwissPMG can assist you in your property search, underwrite, acquisition, rehab and property management here in Columbus, OH.

He's efficient and personable and is very able to assist you with questions if needed.Hope to discuss this with you further,

There are a ton of complexities with properly repairing a fire damaged house....they sell really cheap for a reason.