Our instincts are to eventually rent it and use the income for payment assistance on a new home mortgage.

Unless there is an emergency situation, take a lot of photos and call your insurance agent before doing any repairs.

Both said the same thing to me (so I know a problem is brewing): "Nobody is allowed under the law to assist a seller in any way, while earning a  fee, commission, or profit from selling someone else's property without a license.

@Harsaha LenkaI looked at the OM and it’s missing vacancy and collection loss and repairs and maintenance.  

As a PM, I'm authorized to make emergency repairs without owner permission.

Although the list may seem intensive, I look at it like this: The total cost of all these items can be much lower than the cost to repair a hidden surprise after purchasing a property to flip. 

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

Our team at Rent to Retirement has been helping investors with this for over a decade, and we’re here to assist you too.

I've found an off-market property that would require $175k purchase, $35k down, $20k in repairs, with a conservative ARV of $235k. 

Thanks all of you guys for the assistance.