If the house has a septic system, especially if it's an older one, it's worth the investment to have a septic inspection done.This concern is particularly relevant for those planning to buy and hold the property rather than simply fix and sell it.

Remodeling, painting, carpet, flooring, light or water fixtures - sure, I'm good with that.

Assuming you don't plan on going back into any consumer debt again I like your plan versus barely getting by.

i tell them all the time to find a good W2 job you like and you plan on staying with a long time. 

And don’t underestimate the power of direct outreach; some sellers may be more flexible if you present a clear, structured plan for partnership or financing.

There might be a time to cut losses and just sell it, or if it makes sense your other plan could work, as long as you pull permits and do everything carefully.

I use my license for multiple activities: Of course- comps, when buying and when selling, tax data- to see what I am about to pay when i own the home ( for long term holdings), check the DOM (days on the market) for the subdivision I am either buying on, or when I plan on selling, etc. 

Floor plans?

It is hard to tell what's going to happen in the Danville (Casino) area, but from what I hear, the casino plan would bring in over 1000 jobs, new police precinct short term goal and actively trying to get other companies to move in to the area for long term goal.

With small to mid size ski areas you may want to do some research and look at their growth plans.