@Joseph Cornwell when I deal with unknown Solo contractors, I check online civil court databases of surrounding counties for any civil lawsuits. 

Buyer to verify all items during inspection period. ...Heating and cooling is unknown on the two unoccupied homes."

I spoke with an adviser last night and when he looked at the possible exit plan, ROI, etc, the number he came up with was a break even at 110k, but he wouldn't personally touch it even at that price because of the as yet unknown potential variables.

Jody,Ok, here is what I get from your writings:$50,000 rehab$50,000 purchase$200/mo for unknown months.ARV 130KAre you able to lease the property until they come back?

I've built in a few cost assumptions so we'll just go off of them since the exact figures are unknown.

You really don't need to go through the brain damage for a WACC, as mentioned you have way too many variables and unknowns to have a valid measure, but the answer is, based on experience, very clear.

It is off-markewt, and because it's such a hot spot, the seller will not show me the property without not only my "confdentiality and exclusive rights to sell " signed with this broker, but also, the same document must be signed by the cash buyer I will be partnering with.Therefore, I cannot even LOOK at the good ones without proof of funds and confidentiality agreement to my partner (who is unknown).Very frustrating to say the least. 

There is too much to learn, too much work to do, too many unknowns.

Other than that, I'd throw in an expected repair budget of something, there's always something, at least 1-2k for unknowns. 

The assesssor may also have this information - maybe even on their website as some do now.Remember though, you want to leave lots of room between what the market will bear and what you pay to insulate you against unknowns.