I have had my personel well go dry, cant imagine that with tenants.

It's not that cut and dry.

I am trying to work with the borrower through a deed-in-lieu to another flipper but the numbers don't look great, so even if it works I may have to take a hair cut.

The most dirty and frankly UNLIVABLE conditions happen during the following:Demo (especially ripping out lath/plaster or major sections of walls/insulation etc)Major Drywall Finishing WorkPainting leaves a lot of fumesIf you finish hardwood floors which I recommend although will depend on your local market in terms of preferences, you will have to clear out while the polyurethane dries, etc....Here's a few suggestionsDo NOT buy an air mattress, opt to spend a little more for one of those mattress toppers, the foam type. 

Painting the block with dry-lock & running a dehumidifier while not using it as living space is the way to go.

MLS can be pretty dry for finding deals but you never know.

It may be a great platform for you.For now; keep your powder dry and learn more about multifamily.All the best!

Plumbing issues, oil heat and who is responsible if they let the tank run dry, batteries in smoke and CO detectors....

I believe mobile homes had pex plumbing (as a dry run) well before it hit the markets of stick built homes.Nowadays, these homes are built to HUD code because the factory doesn't know where they will end up in the county.

Most title companies will not do dry closings, and the double-close will need to be funded first by the wholesaler, then separately by the cash buyer.Like I said, PM me if you want to get more dialogue going.