Did a second walk through this weekend to make sure everything is still the same condition as the first walk through.

Without comps and a credible assessment of the condition, it could be a grand slam or  possibly 80k over what you should pay.

You will want to provide basic amenities like included washer/dryer since living conditions are already less than ideal with that many roommates so you don't want the added hassle of them needing to go downtown to a laundromat. 3.

Without tenants it's easier to show the property and the condition can look better than if tenants have their stuff everywhere.

I am not familiar with Horn Lake and the economic conditions you mentioned as a CON, but if you already have those concerns, on top of a large rehab, which typically don't shrink as you get started, and being OOS and needing a PM team, you may want to consider other options as you get started. 

In Europe, it is indeed possible to withdraw equity from a property through refinancing, but the conditions vary by country and lender.

You have to keep in mind that a plex will never be valued the same as an SFH, and renovations may not have the same effect on the value as an SFH.If renovations are not needed right now, I would work toward getting the rent to market for the as-is condition and then renovate each side when you have turnover. 

Who knew about the condition of the wiring inside those old walls?

The evidence they provide must be from a medical professional licensed in our state and the letter must indicate the medical professional has had more than a one-time tele-health "diagnosis". 

He just wants to sell the house and use to $ to help his father with health issues, so he's willing to sell for under market value.