If something significant turns up that would be a deal breaker for you and the risk couldn't be mitigated by a higher security deposit, then move on to #2. #2 seems to be a higher risk due to lack of rental history, less stable work, and less income.

I am not overly-handy (I never owned tools until I bought a duplex) - so far I've done basic electric (installing an outlet, adding a junction box, putting in receptacles, removing breakers, fixing a 3 way switch -- all things an electrician wouldn't touch -- or would charge a couple hundred bucks to do, cost me about 7 dollars - literally), replaced an exterior door, removed rotten siding and put up new siding along with replacing the plywood behind it, re-built the rotten framing of a garage wall, installed a ceiling fan, and just about a thousand other things along the way.

The garage looks like you could just treat and be done with it almost.Obviously the first thought for some would be to 'run' but if the repair opinions aren't high I don't think it would be a deal breaker, unless people think otherwise? 

I want to be able to work with one trusted GC for all future projects, with the understanding that certain bids they provide could be a deal breaker.

Refusing the background check would be a deal breaker for me. 

Usually, breakers tie together a few rooms or fixtures into one run.

I remember a guy who use to do the real estate circuit over 12 years ago name Nick Sidoti. 

It won't be a deal breaker for everyone, but it's still worth retaking the picture. 

it sounds like it will be more than $5k, for sure, but if you're willing to learn how to repair things, while having one side pay your mortgage, it might not be a deal breaker. however, to echo what others have said, make sure you get good estimates on what the reapirs will cost. 

Institutional mortgagees typically don't mess up on this for normal foreclosures.On final note, the law on this topic can change pretty drastically depending on the state and the federal circuit.