I would pull up any trim and drywall that may be in contact with the water to prevent mold issues as well as try to dry out as much of the framing as possible.Not that you were the one to do it, BUT IF YOU’RE GOING TO FINISH A BASEMENT MAKE SURE THAT WATERPROOFING HAS BEEN ADDRESSED BEFORE SPENDING MONEY ON ANYTHING ELSE

There are two issues to consider: control and financial structuring.Do you want to pick out the windows (black trim is all the rage right now), floor stain color, and countertops, or do you want to leave that to someone else?

I need to install a GFCI outlet on both sides of every sink (not replace a normal outlet with a GFCI one, put in entirely new outlets so every sink has two), install another 2-3 smoke detectors per property, repaint all internal molding/trim so that it matches, replace a garage door panel that has a 1 cm dent, and so on.

And the trim you've got in place right now is in good shape.

I have 12 years experience in the construction industry and additional experience outside the professional construction. 10 years of cabinetry and woodworking experience, 7 years as a high end residential electrician (no license), 2 years roofing,  drywall, plumbing, trim work... are all in my wheel house.

The home has been painted inside with relatively updated colors; walls are SW Accessible Beige and trim / doors are SW Alabaster white. 

Every state has very different laws for timelines, auctions, treatment of owners/tenants on residential vs commercial vs unimproved property.Don’t expect to dance up to the courthouse steps with cashier’s checks and just buy the nice house with the brown trim.

There's a glut of homes with granite, 4 bedrooms, etcetera - what I consider high priced homes, great for that family that is growing and wants something with all the trimmings attached, but not what I am looking for.Even worse is trying to find something that needs a lot of TLC and a seller who is reasonable. 

Remodeled Kitchen and bathrooms and cleaned up storage spaces, added shelving and interior trim where I could.

Sometimes, even a more complicated C-corp is the best choice, and sometimes just a plain LLC.It's like keto enthusiasts eat a high-fat diet and praise its supposed health benefits.