I'd ask him (/her/them) to appraise it as if he was being the eyes and ears of an FHA lender, because those standards are a little bit higher than fannie/freddie, and include health/safety issues.

You should stay at a purchase price including repairs in the $60k or higher range.  

Do your numbers include vacancy at market rate?

Hey I currently own a portfolio including SFR and condos.

Personally, as long as my expense - including the HOA fee, is acceptable, I am good with it. 

Does $2,400 include all expenses?

Thus far, my experience in real estate includes helping to renovate his first buy and hold property as well as just shy of a hundred BP Podcasts and a smattering of other REI research!

There are many on here (myself included) who are happy to share experience.

You could spell it out in the P&S that the landlord is to continue with the eviction (including paying for it) and then you close when it is over and done.

Would including an agreement in escrow to deed the property back in case of default be sufficient recourse?