The structure and roof is good with some issues I want fixed:-covert fuse box to 200amp cb panel-storage shed/garage water damageI’m seeking advice on how to make an offer with either the seller repairing these items (another investor I’m not sure I trust to do it properly) or asking for funds at closing (escrow). 

With this type of structure, as soon as you are done with the work completed, you submit the budget for the purpose of rationalizing the massive increase in value in a short period of time rather than leveraging it in an LTC calculation that will cap your cash out proceeds.

The renovations mentioned on the listing are the exact renovations carried out on the property so its a very transparent process.

Do you care to share any pros/cons that you ran into during the entire process?

The reason he suggested we do this is so we can give her power (and just pay it ourselves for her in the meantime) while we wait for the inspector to come out and approve the base meter upgrade, and then to send that to PPL, and then to have them come put her meter in, a process which could apparently take several weeks.Has anyone else done something like this?

They definitely dropped the ball and Scott has worked hard to try and remedy the sutuation, although their loan structures changed in the middle.of my deal, and theres not much that can be done now.

It will need pretty much all the cosmetic stuff, but structural stuff seems not so bad from photos.

What I've learned with this structure is to ensure the you are consistently paying down on principal, or you risk the bank eventually calling in the note, or asking you to restructure. 

What aspect of the process are you looking for advice in: finding property, financing, landlording, etc?

Depending on the part of the lake there will be different permitting process.