Often times pouring boiling water down the drains will help clear this.I do like the product THRIFT (which is sodium hydroxide crystals) for clearing out clogs and keeping sinks running smoothly; it's impressive to watch work with hot water. 

That being the case, I would like to take advantage of the fact that I may be out of work for a while and be in a very low tax bracket right now.

Super low prices and high rents.  

You can check out the book on how to buy with low money down by Mr Turner on BP for more creative ways.

Multiple low ball offers...

My usual approach is to find 3/1 or 3/2 single family houses in a good school district, but my budget will be rather low for this move since my family is staying in OH and we'll be running two households. 

May be a whole separate topic but any other ideas on how to structure the deal with them getting a rehab or construction loan so it's less risk on my end but I still basically quarterback the deal so they get the end product they want?

Washington Federal has a good line of portfolio products that are 5 years seasoning of foreclosure with rates very close to conventional.There are other portfolio lenders around.

Interest only, low interest cost, can be tax write off.

My offer on a REO was rejected as too low - the issue with the townhouse is listed at (1)"system did not hold pressure due to damages, unable to find source of allleaks, water heater damaged at side where TPR valve damaged" and (2) "Water Supply and Sewage system was inspected for presence of obvious visible defects.