This is the summary of expense that the broker gave me.

In order to ensure that this works in both you and the loanee's favor  you will need them to provide around 15-20% of the purchase price  and the cost of any rehab expenses if they exceed what you will lend.

Seems like it can be very expensive to replace.

if I go by your numbers 54k purchase price amd 24k for rehab  that's 78k you're going to rent 2 units for 750 so that's $1500 a month.you should calculate the expenses taxes ,insurance,maintenance etc and see if the cash flow will make sense.. you can use the 2% rule which in this case looks like you're right on the money. . so if 54k and 24k are right numbers and this is not a complete war zone were you would get your $1500 every month with no problems than this should be a good deal..check again for the rehab costs with a local contractos ask to have written estimates. also see if you need to pull permits.. these takes time and money. .good luck!!

Here's a much earlier thread (by Steph's teacher) that has interesting bits from Steph herself, in between the "for and against" hyberbole:- https://www.biggerpockets.com/forums/79/topics/410...Fast forward seven years, and the latest reincarnation appears to be: quickflipninja.comThere are multiple threads about that one too eg:- https://www.biggerpockets.com/forums/79/topics/179...Everyone needs to make up their own minds as to yea or nay regarding allowing themselves to be upsold into expensive education/mentoring, or, researching the same info for "free"!

I have recently come to the realization that my area may be prohibitively expensive unless the stars are aligned and I want to see if this could be a feasible option for long distance acquisition.

You will first need to know expenses and rental potential.  

Placing siding over the stucco is a possibility but the expense could be just as much as the stucco repair.

Taxes are just more expensive in SC.

Your expenses would be more than your damages.