It is kind of rough, but who doesn't enjoy a tax deductible trip to southern Utah 1 or 2 times a month?? 

You'll almost always lose money after closing costs, realtor fees and interest payments unless you get lucky and experience some significant appreciation or if you find a GREAT deal.If you're going to keep it and rent it when your done then it'd be a good idea to check out the airbnb market and speak with a local property manager in the area and figure out what kind of returns to expect from the business.  

You'd be negative cash flow if it was a rental and you don't have any equity for any kind of cash out refinance. 

I was wondering what kind of questions everyone asks sellers when they have a lead for a potential wholesale deal?

Unless you are using it as an initial negotiation tactic (all cash, no inspection kind of offer), I don’t see why you would want to set any limit up front.

I attended a Commercial Brokers Real Estate Breakfast a few months back and Ada Healey, Vice President of Real Estate at Vulcan shared that they've only built three condo projects in their history, and they lost money on all three of them. 

I'm saying that kind of revenue on ANY Airbnb rental is not typical!

I feel confident in most aspects of deal-analysis, except for understanding repair costs, especially when looking at online pictures from afar, so this is the area I'm feeling a bit stuck before truly engaging in any kind of offer-making.Thank you to any experienced long-distance BRRRR investors that are willing to share some wisdom with a newbie like myself!

Sorry I’m kind of all over the place Im just trying to soak up as much as I can and pick your brain some.

Hope you're well.It say's the total cost of the project (price + closing costs + repairs) is $237,500 and your after rehab value is $220,000.I definitely wouldn't recommend starting off with negative equity in your project.You'll want to buy homes in the 105-115k range (or lower of course) for a deal like this one, if you can.If it needs that kind of work, the deals you're looking for are out there.