You don’t want to burn it or toss their stuff only to have them come back for it and seek a judgment against you for not waiting out the appropriate time with their crap

The appropriate contract for your area2.  

I'd talk to your tax pro - they'll need to figure out the appropriate allocation for your personal vs. business sq footage of the house for reporting. 

What I would like to know for people who fix rehabilitate and sell properties.

Heatherya notary is not appropriate here.. nor going to give any more protection .. and for sure doctor's are not doing this.   

With all of that said, SO MANY properties that I have analyzed don't become the "good deal" without buying at a $10k discount (from what current list price is).So, when is it appropriate to put in offers at those kinds of low-ball numbers? 

Only concern is that most wholesalers that I have experience working with lack the knowledge of calculating after repair value (ARV) or rehabilitation.

A more appropriate price with a 9% CAP and the actual NOI is $140,662.

So you do have the choice to perhaps pursue what you love, or maybe where your strengths & weaknesses align and therefore points the appropriate direction, or (if you're going to follow John's steps above) you'll see that some of his items (#3, #7, #8 for instance) are what others have done before you. 

I would see what that market and submarket has done over history and factor in the appropriate %.