Additionally, the rooms are small, narrow and dark. 

Just some of the features include...  7+ Bedrooms, 4 Full and 2 half bathsHuge master suite with a second bedroom suite on the other end of homeLarge indoor pool with 1,000 sqft green houseHuge kitchen with large fireplace2 story Great Room with huge fireplaceLibrary with fireplace, dining room, office, huge laundry room on 1st floorBasement with fireplaceSeparate 4 car garage with covered walkway to main home with caretakers quarters aboveStorage BuildingThe property estate is divided into 2 parts.  

Overall, I believe this is a prime property that is distressed.I'm humbly asking your expert opinion and analysis to figure out this property.My plan would be to rehab this 3bd/2ba into a 3bd/3ba and rent out each room to college students nearby. 

After reaching out to the company, I learned that they like Ranch style homes with an open layout, or at least one large room for gathering.

For example maybe the issue is not that the landlord is keeping rents artificially low but that walking on the living room floor is like walking on a boat and there's significant functional obsolescence throughout the assetLandlords do often keep their rents artificially low, but if you were a lender you would agree that someone throwing good money away is also a little insane and potentially suspect.So these are just a few of the reasons that you and/or your lenders and investors are forced to value your target property on how the property is actually currently performing.On the other hand, as opposed to doing a single valuation you should be doing a full pro forma.

Now, on the other hand, if you take the $194 offer that has been suggested, you're going to end up with a buyer that is only will to pay 200k minus the 3k repairs and they're going to have an agent that wants 2% commission - for a grand total of 193k and your fee is negative $1000.

To me, that says to me that there is no room for me and my wife.  

I decided to expand to Sioux City, IA, Yankton and Vermillion SD, and Omaha, Lincoln, Fremont, Grand Island, and Columbus, NE.

Then Im responsible to pay for hotel rooms for them.

That is, you cannot invest in your own business, your spouse's business, your child's business, your parent, grand-parent, etc., your grand-child, great-grand-child, etc.