My long term goal for real estate is to get into business with the most luxurious real estate such as multi million dollar homes, 5 star hotels, casinos, resorts etc. 

She has the property listed for 1.2 million with 5.5 acres.

You may be able to offer cash for keys.Don't forget that the starting prices in online auctions are usually artificially low to attract bidders.

It is north of $1.4 million (real estate only).

If it's a franchise model I would get the corporation to be on the hook and take over if she fails.If you are buying for 500,000 the building for example and putting down 200,000 then your risk for the dirt and land value isn't that high if you are worth 1 million or more.

. $50K for a rehab on a $1.2 million home? 

@Joshua WomackPrivate money is generally highly attractive.  

He's the type that will call me a million times asking for advice, but not listen to any of it because he knows it all.Enough about him, let's talk about the property.

So I upscaled this renovation in anticipation of future improvements to the neighborhood, and in hopes of attracting better tenants and higher rent.  

I'd imagine the numbers on these properties are not attractive enough for prospective investors to make a move.