if they help you move the property you would split the profits with them.going through this exercise will also give you feedback on whether or not you really do have a great deal.if you need more help feel free to PM me....

(For example, not getting a gas leak fixed);Physical changes in the property insured which result in the property becoming uninsurable.

My name is Greg Byers and I am a Physical Therapist.  

This is really a budgeting exercise to understand what I can comfortably afford.  

Call or knock on their door - offer them some options to solve their problem - get a loan - raise $ to pay their taxes - a joint venture or sell their home to you or sell to you with an option to buy back while remaining in their house as a tenant until they can exercise their option to regain ownership of their home - you create a great return by paying their taxes. 

This option has potential to make you money down the road by physically putting the equity into the house, like you said by fixing it.  

If you start taking action in the real world, physically getting out to networking events, actually crunching numbers as if you are buying an investment, then your will make progress.It take physical action, away from the internet, to make real things happen in the real world.I really hope that helps - sounds like your in a cycle of analysis and education.

And even if at the end of the option you don't sell it (or exercise your option to buy), they had their mortgage paid down, their credit scores kept or improved, prop not destroyed, and they got it back with equity.

Have you physically seen the property yourself yet?

All said - Most lenders prefer replacement reserve greater than $500 and usually rely on an physical needs assessment to determine cost over a 5,10, or 15 year period.