The misunderstanding, and logical disconnect, is when investors have some kind of absurd notion that a direct-labor subcontractor should conduct themselves with the self-managed precision of a real firm... while having none of the business or accounting practices that go along with that.

The 1st step is to conduct a basic feasibility study, and/or to purchase a market snapshot from Cushman and Wakefield for $100. 

I put an ad in the local shopper for a handyman.

We also want to be certain that the ARV is sufficiently greater than our initial cash outlay that refinancing at the ARV will allow us to pull most of our initial capital back out of the property.So, in short, "yes", conduct your analysis based upon the total costs required to put the property into production (this includes holding costs).

I am currently stationed overseas so I will not be able to actually conduct a walkthrough.  

In this case I may not have as much as I would like so I would want to make sure that I conduct thorough due dilligence as I would when picking a stock.  

Is it possible for me to request no tests are done for a specific period of time for me to conduct a reliable test of my own? 

Continue to conduct your diligence thoroughly & happy hunting. 

If i could do this, what tax implications would this impose on my business and if this is not the correct way of conducting business, I would like to hear how i would go about making sure i am doing everything 100% legit.My goal is to setup my LLC first and then look into purchasing property, however, i have no preference of US State as my 1st property and my 2nd property might be in different states and so on.

@Kirk Perecich a HUD special agent would simply conduct/set up technical surveillance for a bit and watch you go home to your residence.