They can operate some front-mounted controls, even without opposable thumbs. 

Total repair to the home, porch, roof, siding on the back, exterior paint, wiring, windows, clean out, and plumbing.

As opposed to saying, "we could make an extra $500/mo" you could say something like "this rental could pay for Susie's day care" or "this rental would allow us to take that vacation to Hawaii we've always been talking about".

Work that will be needed include but not limited to: kitchen, baths, doors, windows, trim, drywall, floors, exterior siding, etc. 

A public open house, well advertised as opposed to an agent open house, which is a waste of time in my opinion. 

What's the exterior color?

There's definitely something to be said with having a degree (as opposed to what mos people say on here).

Put effort into the exterior—nothing turns off buyers faster than poor curb appeal.

Find a portfolio lender willing to lend on 75% of the Value, as opposed to the purchase price.At the end of the day, if you cannot close on both choose one, and be honest and quick letting the seller of the other property know you are dropping out.

There was work that needed to be done on the house, including about $1300 of A/C work and a little over $3000 in wood rot damage on the exterior.