Apparently Code required each pier to be on cement pylons (below the frost line) & given the 15inches of clearance it required the flooring to be torn up.

So... don't just give it back until you have a better idea of what it is worth.... just because it is a mess does not mean it has no value.... jump on zillow and put in her zip code or address and zoom in on her street.  

Also he/she can pull comps and look out for buying/selling trends in various zip codes and connect you with other sellers/buyers in the area that may be interested in future deals.

I'd recommend you search the Rein Forums - many of their threads are open to non-members and I've found a lot of relevant information regarding everything from general trends to building code updates for secondary suites.

Use discount code LEAPYEAR at checkout.Is Your Lack of Cash Holding You Back From Your Real Estate Dreams? 

Ron, yes that is an option but most likely you will have to sell it at a discount.

Another downside is you loose on the advantages, of the Federal Tax Code, by not closing in the name of a LLC.

When a bank forecloses do they generally let the property go at a discount to get it off their books or are they trying to recoup what they lost from the previous lendees?

Did either of you crack the code?  

What would they tell me, just info regarding code enforcement and building permit type stuff?