While I did notice the deck was kinda gnarly on our first walk through and knew some wood needed to be replaced, it wasn't high on my radar.  

The interior was all varnished solid wood.

I'm fairly certain that $100 per foot plus land is nearing the acceptable price range if it has granite and wood and all that.

Google or check Youtube for, "wood gas generator".

If the boss didn't have a formal employee relationship with your friend, he was almost certainly excluded from WC premium calculations.  

I have my B.A. in Studio Art and have some 'woodworking' experience - my favorite is refinishing floors and/or any wood detailing. 

You can also use a small drywall knife, a painter's scrapper ( smaller, harder and stiffer than the drywall knife or even a wood chisel ( smaller, harder, stiffer  and sharper than the scrapper) depending on how thick and hard the amount of spackle you want to remove is.

Take a look at the comps--there's a great set of them in Tremont.I don't think you'd be able to crack 10% cap on a new build even while asking for premium rents (1500+/unit).

Thank y'all so much.Here's more info:very desirable neighborhood2229 sq ftbrick exterior3-4 bedroom, 3 full bathbuilt in 1969new roof 5 years agoHVAC replaced 10-12 years ago, no problemsfireplace, gas heat/ water heater, electric appliances, city sewer, crawl space / full attic, 2 small storage buildings out back, metal carport attached to housePics:https://www.dropbox.com/sh/9okdqd6lj9olk1w/AACeDvF5R133So7URcPnUUoqaWork required:pull up carpet, replace wallpaper in 2 bathrooms [apprx: $13,000]modernize kitchen [approx: $8,000]modernize one full bath [apprx: $4,000]wood paneling in living room could be painted or replaced with drywall [apprx $1000]slight water damage in mother-in-law suite has been repaired and roof replaced, but visible spot in ceiling remains [apprx: $500]Estimated repairs:$26,500Holding/selling costs: Est. $15,000 (Edit to your experience)ARV: $206,000 - $215,000ARV Comps:1- Distance: .6 milesSale date: 5/2014Stats: 3046 sqft incl basement, 4/3 full, 2 half bathsPrice: $90/ sq ft2- Distance .4 milesSale date: 5/2014Stats: 1800 sqft, 3/2Price: $91/ sq ft3- Distance: .5 milesSale date: 5/2014Stats: 3600 sqft incl basement, 4/3Price: $86/sq ft4- Distance: .2 milesSale date: 4/2014Stats: 1700 sqft, 3/2Price: $93/ sq ft5- Distance: .3 milesSale date: 6/2014Stats: 1700 sq ft, 3/2Price: $96/sqft6- Distance: .3 milesSale date: 6/2014Stats: 1350 sqfr, 3/2Price: $98/ sqft

For FDIC, much of this was covered in premium requirements but banks get a big bill to pay.