I would budget $6k for a small house.What they will need to do is break up about 18" of the floor around the entire perimeter, install perforated pvc piping pitched to a corner that has a sump pit and box.  

Your marketing costs will be minimal; door knocking, phone (use Skype), and gas. 

BTW, when you pass, the state deems you to have "minimal competence"!

The reason PM's likely don't have the best reputation is because they have minimal incentive on individual properties.

We initially discussed moving that wall, but decided the space it would add to the bedroom would be minimal, and since our plan is turn that smaller bedroom into a master bath, we just added the space to that bath. 

We understand financial education is the most important form and since it wasn't taught to us via schooling and minimally at home, (our folks are middle class) its on us to learn it here with the pros.

As you can imagine the rents received upon rehab will determine the forced appreciation and future cash flow.If you bought this house and upon rehab the rent will be minimal then I do not think it was a good buy for the work involved.

That will do a lot of bad things to your plans.I don't know anything about the deal other than what you have shared, but I strongly suspect the owner knew about the dentist, or minimally he suspected the dentist might be leaving, which is part of his decision to sell.

Since this is a Freddie Mac property that does not allow assignment I'm thinking the best way to do this is to not have a double closing and instead just have her Quit Claim Deed me her title privately though a lawyer to minimize two separate title searches, title insurances, etc.

Definitely trying to have enough spread to minimize the chance of loosing money.