One person I spoke to was really pleasant but not practicing real estate law any longer.

Budget in time to mess things up and and have to run back to Lowe’s/HD several times and doing multiple reps to do your project.

So, are you saying, that these funds were similar to a rehab loan and they didn't get out in time?  

You want some exposure time, and if you know how to answer questions from buyers and agents, it does NOT matter if you had the house listed for 5 yrs.It will sell for what it is worth at that given month in time and what those given buyers are willing to pay.

We'll see how it holds up but I'm pleasantly surprised.  

In these cases, the whole point of the sale is that there's already a tenant in place in the house.In an apartment, tenants would expect the property to be sold from time to time; with a turnkey operation, I'm sure the management company informs the tenant that the property will be sold to an investor at some point in time; however, with a regular SFR, the tenants may not expect it to be sold while they are still living there.  

Just in time when the Raiders finish their $1.9B stadium and begin play in new stadium.

I have been once pleasantly surprised by this situation, the owner had owned the property outright, they were not aware they were in a flood zone, when I attempted to purchase using financing, the lender sent us a notice with this similar mandate, needless to say, we did not pursue the transaction further as the insurance premium was absurd. 

Did you receive the NFA Letter in time for the closing?

I understand we will still need to put in time to talk to supervise the contractor, visit the site frequently, sell the house, any paperwork we need to do, inspection submittals to our HM lender, etc, but should we expect this to take 40 hours a week each?