Here in OR we're focused on STR's and Multifamily which usually has tight inventory so it can take some time for the right property to come to market..also some of the active listings might still be available later this year and become prospects at more negotiable terms. 

You have a private investor friend or a bank loan which can help if it gets tight?

. - $50k is going to be really tight. 20-25% down on a property is not $40k on a 200k purchase.

I'll think about getting a different agent for the next deal if there is one, but since I'm in the attorney review period for this deal now, time is tight for me to try to get info for my questions above so that I can make an informed decision. 

If you're running a tight ship, you can expect to drop 10,000+ letters before you get a deal, and then you should average 3,000-4,000 letters per deal moving forward after that. 

Would most likely be a fix n flip loan as the leverage is tight on the as is value.

Budget Constraints:Flippers typically work within tight budgets to maximize their profits.

Reasonable answer:  see if you can get ANYONE to take it for FREE if you are on a tight budget or want to reduce waste/ save the dump fees

Inventory on these is very tight, but you can find them under $500k. 

Address the leak immediately, once the house is water tight get everything dry and then you can approach the cosmetic repairs over time.