Is he retiring to the good life on a beach?

We usually act as out own GC so I figured we'd have to do it on this job, too, but life would be so much easier if I could have someone handle it for $150/ sq ft. 

In my experience, if the property is in great condition, you won't' need the handyman more than two -three times a year top!

The Auction Asset Life Cycle: “Coming Soon”In this post I will discuss the asset lifecycle that properties on auction.com typically go through.

For me it makes sense to contribute to my 401k, realize the tax savings and simplify my life (by not managing additional assets in real estate).  

The apartment was always in pristine condition and they would actually leave and leave the apartment to us.

I've been reading BP on and off for over a year, I have been learning and involved in RE for half of my life 16+ years, never done wholesaling or mailing or anything 'silly', just what a 'normal' real real estate investor would do.

If you flip, then definitely refinish them.Floor life is a function of how many times they've been sanded.

(Assuming the remained of the roof is in good condition and not too old.)

ERGO you are in foreclosure in the first place.GFC meltdown saw values drop 20 to over 60% in certain markets  .. your 70% LTV loan was underwater right out of the gate.So to answer your questions.In General... you have a foreclsoureyour value is 10% less than it was when you made the loan.. reason flipper butchered the job ... and again depending on state it could take 1 to 3 years to actually foreclose and of course your not getting any payments.. so your interest is wiped out. your cost of doing the foreclosure again state specific.. and I have never met a defaulted borrower that paid the property tax's  ( and again state specific how bad this will be).. you have selling costs usually 8% and you normally have to spend money getting the home marketable I have never met a defaulted borrower who left a home in perfect shape.So you add 10% market devaluation  8% for sales costs.. 3% for foreclosure costs.. 2% for back taxforce placed insurance and utls.. and depending on the condition of the home 5 to 10% for rehab .. you can see how this eats into your 30%  .. then take states Like were i live and properly filed mechanics liens are super liens they jump ahead of your mortgage.. this can be thousands up to 100 thousands if your flipper totally screwed the subs.