She said was going to "Bid".

Then determine what the properties are currently worth, find out what the after repair value (ARV) could be, and then start getting bids from contractors to do the work. 

This gives the Owner the best of all worlds - SF or STR/LTR - enabling keeping the home affordable for home owner while also providing an affordable place for a friend or family member to live, all while having privacy for both.The 30% is just the difference between the total of my experienced estimate of what the build would have cost just 3 or 4 years ago plus a factor for the current period of inflation, versus the total of the bids that came in. 

Consider including a Proof Of Funds letter to bolster your bid.

If you win a bid, you are inheriting an expensive headache, a safety concern, and a tax liability. 

2) Making a bunch of calls/emails/texts to get the multiple bids for owners wanting to save $5?

Agreed, we had one sell at auction recently that sold 10K over our credit bid, which was set at the BPO price from our realtor. 

Where people are paying 700k and likely going to bid over hot, sultry properties like this. 

@Alex Locklear I never, NEVER do a line-item bidding with painters, EVER.

There are some minor exceptions, but pretty much you pay the same day, and in some places like 5 minutes after the sale or you even pay up front before you bid and then get your money back if you don't win.Good luck and best wishes....happy bidding.