You will stand out from the competition and the incremental costs will be recouped quickly in your low vacancy numbers…  good luck

From there you'll need to determine Debt Service (if it's a financed deal) and Capital Expenses, to then calculate Cash Flow.The Cash-on-Cash Return (CoCR) will just be Cash Flow divided by the All-In Investment (Purchase Price + Renovations + Closing Costs + Wholesale Fee).If you're wholesaling these deals, I recommend you aim to offer your buyers a Cash Flow of no less than $250/mo and a CoCR of 10% or higher.

The repair costs will take multiple years to recoup and with the age of the property I'm concerned if it's even worth holding long term or get out while I can before I fall into a money pit and get stuck.  

Emphasize that your offer reflects the necessary repairs and the costs associated with fixing up the property.

I always hear that it is the least costly.

I am not confident how much it would cost and wonder if it is wise to pass this property to fix if I am not familiar with this issue.

The people I've known who have been successful in this business- successfully in their own terms of it, meaning owning a rental or two up to unbelievable wealth in real estate, all, all, all had a tight REIGN On their business (Notice I said business, and not investment- because to buy this business costs money, the money is invested in that you might be able to get that money back unless you lose the business to the bank or it is destroyed by your customers).

My model projects these can be without private or individual site water, power, bathrooms, and/ or wifi and still be worthy investments. 

The most powerful is simply keeping your properties in good condition, treating residents with respect, and following the law. 

I found out who did it for them and the cost was 1/4 what they charged at the workshop.They also offered a deal, but I didn't feel ready .