As everyone has already said it depends but you should always be prepared to protest.

Of course, this all depends on my particular situation, but is there any general advice you can give me to help me get this real estate train rolling? 

There are a lot of options depending on the surface. 

To me it depends how much debt you want to carry.

These are high and it depends on your lenderProcessing Fees $495.00Underwriting Fees $695.00 I just had a closing and here were the charges from the lender for themProcessing Fees $225.00Underwriting Fees $225.00Origination Fees $300.00As stated above this is garbage and I would consider a new RealtorRealtor/Broker Service Fee $395.00So there is $835 you are over paying but you can't get rid of it unless you switch your lender and agent but based on the fact you have closing costs those actions would probably cost you the deal.

Of course, that depends on how easily the upgrades can be made.

I think that it really depends what both you and your wife have decided on what you want your goals to be.

Moving a kitchen, depending on the kitchen, permits, wiring, plumbing, walls, flooring, counters, cabinets, pulls & knobs, lights etc could easily be $20k to $40K or more.

If we find a way to move forward, price will come down depending on amount of foundation work required)ARV- $159,000Repairs, Literally just foundation.

@Sean Cole they shouldn't, but they can pass a message along depending on what this guy wants.