Tax breaks will get you 25 cents back for every dollar you spend, not a good trade.What is an acceptable rate of return for your cash net of expenses each year? 

Cap rate methodAssuming a median cap rate of 10% for the area, offer price = $98k (NOI of $9737 divided by 10%)So, based on the above, I see a wide range between $98k to $159k none of which the lender may accept by the way.

The owners ran into some trouble (the ground froze mid dig) and it was expensive but the end result was a nice LEGALLY finished basement.

The market in Utah seems to be pretty expensive, so I'm considering out of state opportunities.

Also, I have found HD and lowes to be about 2 to 3 times more expensive then what the cost should be.  

But this would be VERY laborious and expensive. 

I'm currently located in Ashburn, VA but my market is not suitable for investing as the median house price $442,485.

They're not terribly expensive (e.g. $500 or so) and will answer all your questions.  

With a partnership, you want to set it up correctly from the start because it can be very expensive to back track after the fact. 

They do have savings built up, but I am sure even with the military PCS'ing them they will still have some expenses getting settled.