@Frank Sanchez      You are correct to worrying about walking into a lawsuit.

About 15 min walk to the Journal Square PATH.  

The home owner replied saying she would be happy to sell the house for the agreed upon terms and I was wondering if there is a local Richmond investor who would be willing to "Walk" me through the following steps?  

I am still recovering from a brain annurism and a stroke but I am still planning on going back to work someday and if I could walk I probably would but I am trying to work in a flexible and part time way.  

(I see you are in Culver City, make sure you drive the area and walk around to make sure you would enjoy living there) If the market goes down and your property is worth less are you still ok holding it?

It could be in your best interest to sell the property, walk away with the cash, and reinvest it into your first flip. 

In order to find out the rehab estimate a contractor will need to do a walk thru with you, determine the level of rehab and issue you a construction quote.

I've been able to walk through a few properties here but I'm mostly already priced out of my favorite neighborhood.As a result I've been looking at Canaryville, McKinley Park, Pilsen (also pretty heavily priced out of) and Brighton Park for investments.

And the crazy thing is, I literally just walked into it and it clicked in my head.

Also, in your opinion, is there more value in being within walking distance of a bus route vs. not?