I would say get out of this deal.While some of the asbestos stuff mentioned here are not major concerns in my opinion, there are enough major repairs mentioned that could wipe out an entire rehab budget when something goes wrong.With the inspection addressing these concerns maybe you can re-evaluate your rehab budget considering the findings, and bring it back to the seller with a counter that would give you room to fix everything.

(Frustratingly, as a loan originator, I'm not supposed to communicate directly with the appraiser before the report is turned in... one person gets one shot, and that one person is one of the two Realtors.)EDIT: Oh, also, google search "FHA flip rule" and keep that in mind when evaluating FHA-backed offers from potential buyers.

Once you itemize each repair on the property you need to allocate a price for labor and material for each item to create a detailed estimate for the project.Once you get more experience inspecting properties and estimating costs for your rehabs you can look back at your OWN COST HISTORY and derive your OWN RULES OF THUMB that you can use for quickly evaluating properties in the future.I would recommend getting The Book on Estimating Rehab Costs to help you learn the basics of estimating costs for your projects.

Learn their values and make they are consistently applied when evaluating opportunities.

You have to evaluate your current position and goals, and then crunch the numbers to see what will get you where you want to be.My father-in-law invested in real estate.

Because that will give you a true evaluation of how much the home will cost you.

After you have sold a property is the easiest time to evaluate your return. 

I always want to evaluate what I'm doing and how to do it better but not always necessary to dedicate time for daily planning. 

We recommend the septic system be fully evaluated by a qualified septic contractor once proper water flow/pressure can be used to test the system, and also we recommend the systems be evaluated for the proper distance between them

Not only is some of the cost covered, but the tenant takes on a sense of responsibility for usage, because I let them know up front that if usage is crazy, we will re-evaluate at time of lease renewal.I have one judge tell me it was not enforceable in an eviction as part of the money damages.I do a similar thing for a house that has a boiler with three gas meters.Good luck