- Saves buyer hundreds of dollars and several weeks in setting up their own local LLC.

I would go with gas, it is more efficient and will save on cost long term.  

I am not strapped for cash but I would like to use the savings I accumulated from years of working to start my own real estate business but how do you look at something like that and think of the after rehab picture.

The rest of the house is mostly redo the kitchen, probably the bathrooms (may be able to save fixtures, but cabinets, flooring and shower tile need done), re-sand hardwood (hoping to salvage the wood by the leak?)

It is about 95% new house--we kept the foundation and just a little of the 2x1 framing--and we were able to save about 80% of the wood floors in the original house and extend them into the kitchen/dining room in the addition. 

He is selling simply because he's burned out, and would like to retire.

I highly recommend Dave Ramsey podcasts helped me so much get my spending habits on track and understand my potential to save money

Save some money that way.

(I have around 15k savings and My Uncle said that he can lend me up to 30k but i would have to show him a finished ready to sell product).

The rent comes in, I pay the payment and leave the rest in the account to build up for payment coverage, those future repairs, and the day when one of the other tenants decides to retire!