If you can not recover it, obviously it will cut into your return.  

-Roof - roof has a leak -Tons of water damage - mold is horrible in the basement- Walls are all beat up with holes everywhere( looks like their was a royal rumble in the house) - Kitchen ceiling is cut open- bathroom shower wall is ripped open and ceiling of shower is cracking- windows are leaking - kitchen floor is buckled up from water damage- Both upper and lower deck are in horrible condition( i was honestly afraid to walk on it) - Outside molding around windows is cracked and damaged- all outside lights are broken- carpets every single one is ruined- Bathroom sink is shot- Kitchen cabinets all have water damage- And again ill say their is a big mold problem so i have no idea how much that will cost.The condo has 6 rooms , 2 bed rooms , 2 full baths , 1 half bath 1280 sq ft.

You are right about Texas Property Taxes, but since it is free and clear, it doesn't cut into my net that much.  

Assuming you disclose the issues and a structural engineer gives you a letter saying place is structurally sound, then you should be able to process as you wish.BUT, don't cut corners when it comes to safety.

But if you want to read a condensed version without all of the intermediate side questions and "wow, thanks for posting" of the forum and just cut to the chase, you can buy the book and just get straight to the commentary free info. 

Pipes arent a problem as long as you don't hit them when you cut holes in the floor.

We're working on combination keyword alerts and hopefully we'll have that working in the coming weeks to help cut down on irrelevant responses for folks.

I do recommend you get your license - it's not expensive and well worth the extra bonuses you get but it's to necessary.Real estate brokers (who own brokerages and have realtors working under them) will frequently steer you away from wholesaling because it cuts them out of the deal - they don't get a cut of a commission because there is none - you're acting as a principal in the transaction. 

Banker, Private Lender/Hard Money, GC, etc.) whether or not you call it partnering or not....they will still take a cut of the profit on your way from purchase price toward After Rehab Value (ARV) and thus share in the deal. 

For example, if the contractor bid a house at 10k, suppose I cut a deal with that contractor so that they get paid 10% of the bid.