Hello @Monique Rene Coates,"My partners and I have big plans--feel free to check out my profile page for a little background info relevant to the below discussion." 

While it sat vacant, someone ripped all the copper. 

You need to save every penny you earned not to give it away.Your broker can help you to review contracts for free.

Of course, if you don't have any other cash reserves, I don't recommend that you put your last penny down on any investment, so if you don't have a little capex buffer saved elsewhere, I'd go with three props, keep the extra $25k as a reserve until you have enough extra cash (like $20k or so) to make another dp without being totally illiquid - but you get the idea.If you also sell the Indiana property, I agree you should look into the 1031 exchange.

Would definitely benefit from a coat of paint and new carpet.   

Or they buy the paint, one coat paint, and you hire a painter.

The original basin is in copper and leaking. 

Never, ever collected a penny, for she was a professional deadbeat.

If I find you an auction property/foreclosure/FSBO/REO for pennies on the dollar will you pay me commission?

Also, if they are not the original lien holder, then it is likely that the original lien holder sold the debt for pennies on the dollar.