So far I have found @David Greene 's, book on Long distance real estate investing insightful an helpful in laying out a foundation from which to proceed.

This lead is in Ohio, FYI.The seller/executor has agreed to a price around 50 cents on the dollar, but I'm unsure if I can proceed or if I need to wait for the inventory to be filed.Any help would be appreciated. 

But if they do, then you have possible court proceedings to get them out of the property.3. $2500 seems too low.

Licensed and insured contractors are not cheap. 

Check with your insurance agent

Here is what I got back from the title company on closing costs "Binder is $100, title insurance is $195, recording fee is $27.25 for the deed.

He then proceeded to send me two files that ONLY consisted of different sizes of the logo.  

Any insurance recommendations for house to be flipped?

In one of the early podcasts, the individual managed to convince his wife to sell their big house, move in to a smaller apartment and use their sales proceeds to invest in cash-flowing rental properties! 

Also the current owner may want you to sign a hold harmless clause and possibly have insurance in place just in case someone would get hurt while you are showing the property