They were abandoned and needed significant work which wasn't a huge issue but in terms of HUD owned properties i heard there can be significant processing periods.

I don’t know  the specific details of your situation, but there are other considerations and options as well.

What is your finance mechanism and terms?  

For example, our design team creates detailed plans that align with market trends, and our contractors execute them with precision.

Make sure it explicitly explains the process for termination if you are unhappy with their services, especially if they violate the terms of your agreement.3.

As a long-term hold investor, I see this property as -$600/mo to -$800/mo depending on whether you use a PM or not.

If it was long term yeah you can make it clear upfront as a take it or leave it.

However, there are other loans designed for fixer uppers referred to us hard money loans, bridge loans, or fix and flip loans but whatever you want to call them they're essentially short term, interest only loans with no prepayment penalties designed to finance a higher % of your purchase price and typically all of your renovations not to exceed a certain % of the ARV (typically 75% max). 

Looking at this property as a long term rental strategy.

@Tiffani HollisFor a long-term rental, I’d avoid used dishwashers entirely—repair costs and reliability issues often outweigh the savings.