If you are buying a distressed property, you normally take it as-is.Give her two options.

Is this normal?

As noted earlier, this would not be a "normal" 401K distribution, as my husband and I qualify for the special CARES Act (Section 2202) that allows us to replace the funds with no penalty and all taxes reimbursed.

Because of that, investors normally have to pay a premium to buy REIT stocks, which means that they have to pay more than the net asset value of the properties owned by the REITs.

I did real estate school online at night after my normal job, and eventually got my license 3 months later.

So they're asking more than what you think it's worth, but with a lower down payment than the normal 20% (which would be 35k).

WE ARE NOT ACCOUNTANTS, so any discussion about our tax strategy on this one is based on guidance that we have received for ourselves – we strongly suggest that if you are interested in understanding these strategies that you consult with an accountant.Issues: we did not understand the financing structure for this transaction, our purchase price was $60,000 and our lender agreed to finance 100% of our renovation, but in order to do so they increased the amount of cash we had to put into the deal from $30,000 to $44,000… Normally this would not be a problem BUT since we purchased 44 Blanchard St. all cash, we definitely felt cash flow pressure.

You may hire a plumbing company to run the camera if you wish,  normally that costs around $200.  

Normally, I would put in $315,000 with closing costs of around $6,300 (that is 2%) with a 20% down payment. 

Paint, flooring, roofs and normal deferred maintenance.