Next time, we'll be more patient and wait until it is completely finished and staged.

If she can out show she's serious and put in higher offer and the numbers still work some of those sellers may prefer to wait.

Also, even if the previous owner only owed 60k, you have to take into consideration the cost of foreclosing and the lost income if they hadn't been paying for months or years, not to mention any other costs of satisfying tax liens or maintenance issues that need to be resolved before sale.So, speaking as someone who has bought only 3 foreclosed properties:  You make an offer that works for you, and depending on how anxious they are to sell it, and how much interest they've had, they will accept or reject.  

You're already in the right place to have the help you are requesting, just keep hopping into these forums and ask questions, read posts and comment and as @Mindy Jensen mentioned, you'll find yourself in communication with local investors who you may be able to do some work with & for over the next couple years to really get your feet wet in the industry.

The only way I can think to guarantee their return is to wait until I have a deal I hand and then present the numbers.

I am waiting on one right now,  nothing to do but wait, have the sellers sign  45 day extensions every 45. 

I did mention (email) to them of late fee in last December.

If you convert your home prior and decide to rent or live else where in the interim, then decide to use FHA to qualify for a new primary you can use the rental income with out restrictions of the 100 mile rule and still qualify for FHA.Their (FHA) guidelines are rigid, but with proper planning you can adhere to the guidelines and accomplish your objectives while avoiding the unintended consequences of the rules.Best practice would probably be to wait a few months after moving till utilizing your FHA loan to obtain another property.FHA does have a max of 7 financed properties including the FHA insured property (6 rentals + 1 FHA primary) so it looks like you're riding up to your max with the current of 6 financed properties.

The agent told me he's waiting for a contractor to give him a bid for repairs so he can verify what I'm saying it needs and what it's going to cost.

The article mentions that they had operations in over 38 states.