I see what you're saying, however I was barred from trespassing on the property so there was no way to verify the interior make up of the home, so I was holding my breath that the interior wasn't in shambles but didn't think it was going to be no where near the bed and bath advertisement.

That being said, at a deep enough discount, anything can work.

It's six inches deep.

I am looking to get in to the real estate business to fulfill my desire to design spaces and help breathe new life into neglected homes.

Hard money lender is the only lending that might do a deal that quick, unless you have family or friends with deep pockets. 

I am very new to real estate but have had deep interest in it for the last few years.

The bottom side of the rug is smooth sealed plasticy feeling material - not sure how to describe it.I talked to my uncle who is a home inspector and has inspected the property in the past and he said that what most likely happened was the slab, which is largely made up of water, sweat and the rug sat on top of the carpet and trapped moisture between the slab and the rug b/c the carpet could not breathe.

Yup  stop breath and don't send money to anyone personally.. only to title company and only to be dispursed upon closing.. anything else and you risk losing ALL YOUR HARD Earned money

Then you have a little breathing room to weigh your options.Just a thought!

Learn a lot that way before going into the rehab deep end!