I have not visited the property yet because I live in Arlington and didn't want to make a trip down until I at least could verify some of the bigger items that went into my analysis.  

I know a few people in that area with empty barns that store boats, motorcycles, classic cars, etc for $600 and up per item for an entire season.

If this turnkey is fully rehabbed with many new or near new major items - updated kitchen & bath, roof, mechanicals, flooring, etc and there are a bunch of distressed properties in the area at those lower prices, those aren't true comps.  

If you plan on this expense from the outset it's just another mine item in the deal.

(You do not need to live in the home for 5 years) 3) Seller gave me $3,500 toward closing cost.4) I essentially only paid a grand total of $1,500 of my own money for to complete the deal and that 1500 was spread across the following items.....

I wanted to clarify a few items.  

I was going to try to rent spaces for antique, crafts and second hand items, but this hasn't materialized.

I have spent $50,0000 upgrading the home to current, high level finishes, addressed any noted safety concerns by my licensed electrician,  and they signed for home accepting as is.The email was aggressive in nature with no real actionable items or specific concerns other than "GRAVE DANGER". 

First line - #1 item said: "If its verbal - it doesn't exist".

There are some other small items like if you are on well water the well has to be contained within 30 feet of the acre you subdivide as well as road access, but none of those were an issue in our case.