I am going to look at it as a positive as well, as sewer main clogs can get extremely expensive in addition to gross, and we got through it relatively unscathed (knock on wood).    

@Ned Carey  generally speaking in our neck of the woods   you cannot go shopping for title insurance like you describe there are only about 6 or 7 companies that issue title and something like this that is cut and dry .. almost certainly will not fly with any of them.

The seller is cool with me assigning it, but asked why I am letting a solid 34% COC deal go for only $5k.  

Most lenders will require the "live in the home for one year" in order to qualify for their programs, but there are some instances where you can develop a relationship with a local back, show them the numbers if they are rock solid, and try to work a deal.

A solid private investor isn't something you find by advertising.  

Total rehab: $17,270 (estimated was $18k and change)The numbers on this deal:Purchase Price: $72,000 cashRehab Costs:Kitchen Granite: $1300HVAC upgrade: $500Electric Fixtures: $800Interior finish: $2300Bathroom: $800New floors: $2800Dumpster: $1000Deck: $3000Microwave oven and elec: $600Rotten wood removal: $895Deck stain: $595New sod: $1795Shutters: $295Concrete stain: $495Mail box: $95Total rehab: $17,270 (estimated was $18k and change)Total cost: $89,270Sold price: $115,000Profit: ~$25,730 (after soft costs it should come out to around 20k, need to figure those)DOM: 150They really nailed the rehab budget and for that I give them credit.

I expect solid returns similar to that of HML (about 16-18% annualized).

I would recommend taking the time to formulate a solid business plan and list of goals you want to accomplish in both the short-term and long-term.

Solid plan with getting interested in multi-units. 

I got one  solid lead on one the house and if all goes we we will close next week.