I imagined a year from then someone saying "Hey, whatever happened to that real estate thing you were trying to do?"

Once you tell them it's not structurally sound I imagine they are will be running away.  

@Chad Howard   agree with the above there is probably absolutely no reason to go out of state I have to imagine you can find plently of nice cAsh flow rentals right were you live ... the rural mid west is full of them and many far better deals than risking the Inner big cities were a lot of the Turn key companies play and that tenant base !

I like to use ListSource.com to build my list, you can pick every imaginable criteria possible.

As you can imagine, this took quite a bit of time and creativity. 

Looking at a property condition report, and it says 'pressure test fail' and 'Pour Water/Antifreeze In Drains Fail' What does that say to you?  

I don't k ow about the road cost... but I imagine your local builders association would have some good folks to refer you to.

I couldn't imagine that inspectors would pass this as it is acceptable for code and insurance companies give you a problem

The seller is probably in "fight or flight" mode now, being freaked out by the burst pipe and by the refusal of the insurance company to cover the claim and all the costs pouring on him at the time when he least expected it.

I switched from wills to a revocable living trust and pour over will mainly because of the amount and location of property I own and the fact that I would have had to use a testamentary trust in a will for my kids anyway.