The path you take depends on your financial circumstances and your natural strengths.

I know it's not cut and dry, and definitely depends on the nature of the problems.I would think a water line break or sewage backup would warrant an immediate response?

I dont know what are exactly the procedure in Tennessee but here in Florida you will probably use a title agency which would handle the closing, title search, title insurance  etc.   

Possible main drain pipe replacement and new natural gas heater needed. 

While it is fresh in your mind, sit down and write procedures for how you would do tenant screening next time.  

I found an abandoned property while "driving for dollars" and after some research I found out that it's owned/in an estate because the owner must have died. After more research I believe I've found a landline phone nu...

If you have not covered up the subfloor yet, stop in to your local pet store and look for "Natures Miracle" it is an enzyme to eliminate the urine.  

This would of course require 3 base things:  1) efficient utilities- a natural gas hookup in this case, 2) a well insulated house (sometimes challenging in the multi units in New England), and 3) implementation of a landlord thermostat to control the heat and regulate it to a range 65- 71. 

Underwriting for a living, naturally the idea of investing in real estate appeals to me.

1) there are so many built in transaction management systems online and for the high performing agent hiring a TC is becoming 2nd nature (most offices mandate and most escrows now include them for free in transactions) Dropbox and cloud drives seem to do the job for disclosures and Zip forms seems to create an online heaven for digital document signing and storage.