land has very little value if existing homes are selling for less than New build replacement costs. which is pretty much half of the US.. and especially in the mid west and rust belt areas.. building lots have value in dense urban areas where new infill is going on in a big way..

The reason for this is you are already being hit for these costs in your payment, so hitting you with the deduction on your returns would be double counting. 

Or trust a property management company to help? 

There are lots of scenarios where you can lose money at a foreclosure auction - usually because the sale price plus rehab and future sale costs are driven above the after repair value.

Do I include closing costs even if those included several months HOA fees in advance and same for taxes?

You likely need a much larger volume in lower cost areas to make the same money.  

100 year old and if you think $50k will get work done, double that cost. 

That $15K would have to be enough for either a 3.5% down payment using FHA for example and lean heavy on the seller for a Seller concession (Seller credit) which goes towards closing costs.

How much would it cost for material and labor for a 985 square-foot house?

AI machines can extract resources such as minerals and food and distribute them at no cost.