Also, I guess one of my major concerns was getting rid of the land as it is probably not as liquid as a home property.

I'm concerned that your estimate seems low.

Previously, my method has been to purchase homes and hold/rent with healthy cash flow.

.#8 If you think the renter was legit and legitimately scammed, see if you can figure out the numbers, address, payment method, and advertisement.... file criminal charges with the police. 

Not as concerned about the facing or doors.How things are joined also comes into play; glue breaks down and water will swell particle board much more then plywood or solid wood.

If you are concerned with the $, tell the painter you will provide the paint.Hope that helps!

I did the math and here's what I found:mortgage amount = 112500monthly PI payment at 4.5% = 570.02monthly PI payment at 3.85% = 527.41difference is $42.61 per month.Dividing your points amount ($2250) by the difference yields just under 53 months.If you keep the mortgage for 53 months or more, paying points will save you money.There may also be some taxation concerns considering the deductibility of points, but I don't have that info.

I have done this with several properties and haven't had an issues using this method. 

So with the out of state cosigner I was concerned that should the renter simply decide to leave, not pay or trash the place, I'm left with a cosigner thousands of miles away that I may not be able to connect with.

@Ericka Grant,We had a similar situation, young girl LOVED the place, signed contract, paid deposit.. then the day after the lease started, she told us her dad did a search, and said there were too many sex offenders nearby, and she wouldn't move in because she was afraid now (she saw it twice in person, no concerns).