This STR would also be a place for us to block dates off for ourselves between work contracts (if we want to), which adds a slightly more personal investment in this one. 

@Dustin Horner you should be contracting maintenance work and creating a preferred list of vendors as @Phillip Austin has recommended.The first person you hire to help you should be to handle what you LEAST like to do yourself or has the greatest time savings for you!

I’ve reported this to the FTC and have legal counsel.

Your main concern should be whether these bedrooms and bathrooms on the lower level are legal and have the proper egress require for fire code and livability.

Additionally, I don't have the time to sift through all the legal jargon and pinpoint where they’ve breached the contract, so it's worth having a lawyer review it in my situation.

If you buy it too low, in some jurisdictions they will call it "equity skimming" which is illegal.It can be very profitable, I've done many, but you really need to know what you are doing. on pre foreclosures on the West coast if you happen to do them legally .. the old owner is due 80% of the profit if you sell within 36 months.. so there is that.. but if your buying pre foreclosure for long term hold and wait out the 36 months then your fine. the reality these days is post GFC lenders/ banks/ servicers have realize that working with the buyer to reinstate recast redo the loans is far better than taking it all the way to foreclosure so your correct its usually the worse houses that make it all the way to the end and go to sale.thats why if you follow NODs  Notice of defaults or whatever they are call in your state. you see so many postponements and or removed or paid off etc.. so you hone in on one property do all this work only to have it not go  to sale  rarely are you going to buy a home that you really want LOL

Ambulance chasing attorneys know their way around and can legally navigate around Insurance Policies.

Found it on Zillow the first day it was listed, and got under contract same day (offered over asking).

Except I already had the property under contract.

To gain investor confidence, ensure the investment property numbers are real, use the most common contract forms in your state (versus a 2 or 3-page) internet/guru contract form) with appropriate addenda, or an attorney-drafted form and attorney-drafted assignment agreement.