If you think rehab will take 3 months, budget 5-6, etc.  

Our budget is higher than what someone might expect, but I'd rather not disclose those specifics here. 

While he offered a few other properties as well, this brought me close to the extent of my budget.

If you need to buy something relatively soon it may not be a bad idea but only if your budget works with the mortgage payment.

You can use First American’s website as a resource for closing cost estimates: https://facc.firstam.com I’d budget 8% vacancy instead of 5% so you have a full month of vacancy budgeted in your numbers.

(either way it's a low budget DIY renovate over time situation, I can't spend too much on the house because it will eventually be a tear down).

Set your budget. 

Set your budget based on cash on hand or ability to raise and what you may qualify for with a mortgage.  2.

I'm working with an all in budget of 300k and roughly a 10 percent down payment, but do have some room to increase if there is a deal that makes sense. 

Our local government's budget is 60% funded by transient occupancy taxes, so it's a huge blow for everyone.