When I called the Philly licensing department they said that the permits can run  $25 to maybe a couple of hundred dollars depending on what is getting done. 

I know some with hundreds of millions.

Yes, this will costs you a few hundreds dollars, but will strengthen your position, in my opinion.  

Having a deed prepared, fedexing to you, you sign, notarize and Fedex back to IN for recording is very easy and done hundreds of times a day. 

Spend the few hundred bucks and get an appraisal done.

@Will TanziePlease search this forum as there are hundreds of posts on this subject already.Nobody can answer your question.

Big difference between this and real estate is that this depreciates to the tune of a few hundred dollars per month.

- I add myself to the home title- Refinance for a $500K loan to pay off the amount owed by my father and bring home out of foreclosure (there will be at least 20% equity in the home)- Then either sell the house for market value or rent it for a few hundred bucks cash flowSo my questions are:1. 

Usually several hundred negative.

Conservatively, it probably takes several hundred hours of work to get a deal, more if you are new.