The rear structure does look like it needs some attention, but the main house looks promising.

To the best of my knowledge you can’t get into a fourplex for under 20% if you already own a home.If you refinance the FHA loan you may be able to use that again and grab a fourplex.Tim Swierczek may be able to provide more insight.

During the time it take to complete the repairs, you would receive rent payments from your insurance company.

I have talked to the bank a couple times and have received pre-approval for more than I'm wanting to spend for my first home.

We are pretty sure the Property Management company was paying very little attention to our house during this time. 

Then maybe a few days after they should have received it, then call them and ask if they got your letter and if so, would they be interested in talking to you about selling their house?  

Plus you'll likely receive renovation payments through by draw, so you'll need to front a percentage of the rehab to get the ball rolling.

I work as a land use consultant...and have been on both sides of this for condemnation due to a new development as well the new development receiving condemnation for improvements.

I was wondering if any Bigger Pockets members would be willing to share any construction estimates they have received in the past in the Baltimore Area?

But it's the paperwork (the Lease Agreement, the Option Agreement, etc.) that will have the biggest impact on your success or lack thereof.Do not do lease-option unless you have received adequate training and have access to excellent documents.Since you are here in Georgia, I would strongly recommend you look at the training and documents offered by Dyches Boddiford.