circumstances.. education.. personality .. innate abilities.. lack of understanding basic math..desire .. drive.. familial pressures..  

Throw in low offers and some people will be motivated to sell due to life circumstances.

Though I would foresee this in very limited circumstances. 

I have yet to hear of a circumstance where a lawsuit wasn't pursued just because they could immediately find the beneficial owner.   

In most cases the repairs will have to be complete prior to closing, but there are some circumstances where the lender will permit an escrow holdback to allow the repairs to be completed after closing.

There is a SFH my relative is selling at auction due to personal life circumstances.

There is a SFH my relative is selling at auction due to personal life circumstances.

Given your circumstances and goals, hiring a property manager could be beneficial, especially since you won't be in the same city.

The best way to deal with these things is to create policies you go by and will only bend under extreme circumstances (this is true for almost everything business, as The E-Myth discusses very well).

Most lenders will have clauses that allow them to modify the terms, freeze, or even call or convert the line if certain events occur, to include ambiguous events like changes in personal financial circumstances.