I could easily add 3-5 other factors to consider, but the four items above will help you get started.

If their problem is not solvable, it goes to the bank, and if it's easily solved by dropping it on the market and paying a Realtor to solve their problem (and they can afford the time that takes) then they never meet you either. 

If you use a GC, this will easily double since they have to float the money to pay the subs, fill out a mountain of paperwork and also have some profit in there. 

I just went and counted 30 books and thats only in the two spots where I can easily find them.

With financing you can easily buy in solid B class neighborhoods in affordable markets like Indianapolis and Kansas City.

If it's an actual addition I'd be more concerned than if it was a situation where the walls just look to be rearranged to better use the square footage. 

I think there's a lot of great info which can be shared... and more easily, by people not in the same markets.

My two cents, on top of the great advice upthread, is this:  1) Rearrange your lifestyle in a way that justifies the expenditure and the transit time. 

I am holding off tenants right now because its vacant and I can do showings easily.

I’m just thinking this could easily make me $1k/month now and for years to come and into retirement.