Make sure this is a specialization of whomever you use.

Run your comps and be prepared to adjust a suggested price based on condition, layout, and other factors.

I hear if you fail it could take weeks for them to come back out so I just wanted to better prepare for that initial inspection and what to expect and also, any issues before then.  

Vs her current super-chill life, get's special discounts all over the place for being "too poor" and all the while can work cash jobs when wants extra, keeps her bank account low, plays the game to get here "free ride". 

Eliminate all your bad debt first, prepare your savings even deeper and put it on a downpayment for a single family house if you do not have one.

I strongly suggest you talk it over with experts who specialize in Memphis.

We have worked in many areas of FL for years and specialize specifically in REI. 

Major corporation's leave all the time so be prepared!   

We specialize in joint venture transactions, collaborating with both seasoned and new investors.

But the property could be an incredible deal and also would be a very special property do to its location and potential to be brought back to life.