Problem was we had so many bank accounts and credit cards (to maximize points) so it's so difficult to track how much we spent on what.

Spent the day picking the brain of the seller and team that I'm working with, so that alone was valuable.I would recommend that any out of state investors make a trip out, to meet the team and get a feel for the area.

Should Person 2 be compensated extra because of possibly more time/energy spent making repairs?

The spread would be my fee for my time spent finding the deal and negotiating . 

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With specific finishes, you have to pick them out at your big box stores, and build a "finish schedule" or specifications page, then bind it to your contract.

While rehabbing, I spent a little extra money fixing things that could potentially cause problems down the line.  

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That being said, if it checks all the boxes for your current situation and you are a buy and hold investor it could make sense. 

.- Junction box: some code violations for wiring- HVAC: some code violations- Water heater: minor gas leaks- Original single pane windows.