I'm also considering a partnership with them and would like a better grasp on how to approach them.

Even though you seem to have a pretty good grasp on the condition, an inspection will give you a nice clean report on everything, and it'll only cost you a few hundred bucks3.

@Jeffrey Evans does she 100% grasp and understand the differences between assets and liabilities?

I’m new to this so understanding the details of seller financing I’m still grasping how to work into the deal.

I was confused on how hard money lending work but now I have a good grasp of it.

We were getting ready to start investing where we used to live (Lancaster,CA) I was learning that market everyday an felt like I had a grasp on it, we also had a few mentors that were my co-workers.   5 months ago we did a medical hardship up to WA where I transferred to for work.

Get a good grasp at what you're dealing with, because flooding can do its damage and be an expensive fix. 

Managing the rehab process remotely isn't that much of a concern in my case in terms of knowing what needs to be done because I've been involved in rehabs and flips here locally, so I feel I have a fairly good grasp on the scope of work questions. 

It would need to be completely gutted and rehabbed, it could potentially be divided into two separate units, the Zestimate value is around $400k, and a nearby comp sold for over $500k last year.I have a basic understanding of the BRRRR strategy but the details are still tough for me to grasp, so I'm wondering:- About how much would it take to gut/rehab the house? 

I feel like I have a grasp on the basic pros and cons of long distance investing but I’m always looking to learn more.I appreciate you reaching out and it’s good to see other AD members who are interested in REI. - Trey