First, our direct involvement in the local real estate community helps us identify well-located properties that we think we can improve through better management, new capital or better marketing.

Eviction is your only choice....no matter how hard it may be or the cost involved....unless you can get cash for keys to work.A good eviction attorney doesn't really need to be close to the property at all.

A year ago we were involved in one that had 35 offers. 

Now though, he said he would highly recommend the more thorough heat treatment method at a cost of  $1250. 

I agree with @Jordan Moorhead, you will need a minimum 20% down unless there is enough upside where you can get a HML involved for a short period of time. 

As a result, I have many friends/ family/ business contacts that would be willing, and often ask, to get involved.  

Both my wife and I are wanting to get involved with Real estate, I have been researching areas, listening to podcasts, and reading books to expand my knowledge.

So I find that when I evaluate properties according to the BiggerPockets method, including CapEx monthly, including 5% of gross rents for repairs and maintanence, including 10% for property managers, etc, NO property passes any test.  1% rule, 50% rule, or even being positive cash flow.  

Retail use or office buildings are $1M+, but I'm not a developer at all.In my mind, considering a property is already present (and might involve demo to upgrade the overall property), what's the best way to analyze this property.

If the IRA is involved, then you personally may not bring money into the deal.